I'll be publishing new content at Substack.com focused on keeping fit as we age. You can find me there under Sal Daher or under Aging Fit. Startups will show up occasionally. Here's a link to the Substack:
Sal Daher's Substack - Aging Fit
Thanks for listening.
Highlights:
Guest: Sal Daher
Topics: angel investing strategies, co-founders, biotech, exits, pivots, partnerships with strategics
]]>I'll be publishing new content at Substack.com focused on keeping fit as we age. You can find me there under Sal Daher or under Aging Fit. Startups will show up occasionally. Here's a link to the Substack:
Sal Daher's Substack - Aging Fit
Thanks for listening.
Highlights:
Guest: Sal Daher
Topics: angel investing strategies, co-founders, biotech, exits, pivots, partnerships with strategics
]]>
Repeat life science entrepreneur Tom Weldon is now taking on aging. He is commercializing a compound to extend health span developed at a prominent institution. Composed of substances generally considered as safe by the FDA, the formula has shown impressive results in mice and, to date, in one human, Tom himself. Intriguing chat with a dynamic founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Repeat life science entrepreneur Tom Weldon is now taking on aging. He is commercializing a compound to extend health span developed at a prominent institution. Composed of substances generally considered as safe by the FDA, the formula has shown impressive results in mice and, to date, in one human, Tom himself. Intriguing chat with a dynamic founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Life science board member and advisor Paul Hartung is back with wise tips on how to fund your biotech startup in these had times. Listen or read below.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, fundraising, raising money
]]>
Life science board member and advisor Paul Hartung is back with wise tips on how to fund your biotech startup in these had times. Listen or read below.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, fundraising, raising money
]]>
In my fourth decade of angel investing, I'm happy with my investments but regret having put them in my IRAs. Here are pros and cons of having illiquid, operationally complex and hard-to-value assets in IRAs.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies
]]>
In my fourth decade of angel investing, I'm happy with my investments but regret having put them in my IRAs. Here are pros and cons of having illiquid, operationally complex and hard-to-value assets in IRAs.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies
]]>
Raul Rosa, artist, musician, and sound engineer, discusses his work with the Angel Invest Boston Podcast, some of his favorite interviews, and his own startup, Podspot.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, COVID, robotics/AI
]]>
Raul Rosa, artist, musician, and sound engineer, discusses his work with the Angel Invest Boston Podcast, some of his favorite interviews, and his own startup, Podspot.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, COVID, robotics/AI
]]>
Katharine Woodman-Maynard has for seven years created a gorgeous and enduring graphic manifestation of this podcast on the web. I am fortunate to have this gifted artist enhancing my work with her talent and wisdom. She returns to talk about her favorite interviews, to share her journey as a professional artist and to offer valuable advice for those starting out.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, ed tech, platform
]]>
Katharine Woodman-Maynard has for seven years created a gorgeous and enduring graphic manifestation of this podcast on the web. I am fortunate to have this gifted artist enhancing my work with her talent and wisdom. She returns to talk about her favorite interviews, to share her journey as a professional artist and to offer valuable advice for those starting out.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, ed tech, platform
]]>
Ethan Pierce's startup Adaptive Reader makes great literature accessible to kids not reading at grade level. Harnessing generative AI with sophisticated prompts and quality control by humans creates compelling texts based on the classics. Ethan and his co-founder even have a promising business model. Great chat!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, product, robotics/AI
]]>
Ethan Pierce's startup Adaptive Reader makes great literature accessible to kids not reading at grade level. Harnessing generative AI with sophisticated prompts and quality control by humans creates compelling texts based on the classics. Ethan and his co-founder even have a promising business model. Great chat!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, product, robotics/AI
]]>
Brian Denenberg is an angel investor, company advisor, and co-founder. Here, he discusses some of the companies he has been involved with, including Fairmarkit, Tive, and his work at Venture Lane Studio helping startups grow sales.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
Brian Denenberg is an angel investor, company advisor, and co-founder. Here, he discusses some of the companies he has been involved with, including Fairmarkit, Tive, and his work at Venture Lane Studio helping startups grow sales.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
Brian Freeman, MD, co-founded Energesis to help overweight people lose weight by growing their energy-burning brown fat. Experiments in mice have shown this approach works with GLP-1 drugs such as Wegovy in accentuating weight loss. Great chat with a compelling repeat founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, product, founding story
]]>
Brian Freeman, MD, co-founded Energesis to help overweight people lose weight by growing their energy-burning brown fat. Experiments in mice have shown this approach works with GLP-1 drugs such as Wegovy in accentuating weight loss. Great chat with a compelling repeat founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, product, founding story
]]>
My Walnut buddy Andy Bartlett, PhD brings great energy to the group and an expert's perspective on computing. We talked about our favorite startups including Savran Technologies, evTS, and BioFeyn. He has interesting things to say about ChatGPT. We also had a great chat about his angel journey.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
My Walnut buddy Andy Bartlett, PhD brings great energy to the group and an expert's perspective on computing. We talked about our favorite startups including Savran Technologies, evTS, and BioFeyn. He has interesting things to say about ChatGPT. We also had a great chat about his angel journey.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
Kevin Majeres, MD, teaches cognitive behavioral therapy (CBT) at Harvard Medical School. CBT is the gold standard to treat mental health conditions without drugs. CBT can also help with workplace issues such as burnout or anxiety. Dr. Majeres (pronounced Majors) has built a digital platform, OptimalWork.com, to improve the quality of work life. I learned really useful things from this interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, scholar
]]>
Kevin Majeres, MD, teaches cognitive behavioral therapy (CBT) at Harvard Medical School. CBT is the gold standard to treat mental health conditions without drugs. CBT can also help with workplace issues such as burnout or anxiety. Dr. Majeres (pronounced Majors) has built a digital platform, OptimalWork.com, to improve the quality of work life. I learned really useful things from this interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, scholar
]]>Here's how All Stage's deal looks like in the All Stage platform:
All Stage deal within the All Stage product
Highlights:
● Sal Daher Introduces Jason Burke
● All Stage and the Problem it's Solving
● "... Because unless you've done sales a lot, it's really hard to deal with rejection, especially for scientific founders..."
● "... It's an example of some of the connective tissue between Showcase, the founder tool, and Community, the investor tool, to allow for that collaboration to happen..."
● Moolah Kicks
● Folia Health
● Jason's Entrepreneurial Journey
● "... I built the Tufts cross-country site, which today in 2023 doesn't seem groundbreaking, but at the time having a password on a site and detecting the IP address of who's using it and greeting them, that sort of stuff was absolute magic to do..."
● "... which came first? Angel investing or starting a company?"
● "... Was it a personal relationship, the first investment that you made as an angel?"
● Advice to the Audience
]]>Here's how All Stage's deal looks like in the All Stage platform:
All Stage deal within the All Stage product
Highlights:
● Sal Daher Introduces Jason Burke
● All Stage and the Problem it's Solving
● "... Because unless you've done sales a lot, it's really hard to deal with rejection, especially for scientific founders..."
● "... It's an example of some of the connective tissue between Showcase, the founder tool, and Community, the investor tool, to allow for that collaboration to happen..."
● Moolah Kicks
● Folia Health
● Jason's Entrepreneurial Journey
● "... I built the Tufts cross-country site, which today in 2023 doesn't seem groundbreaking, but at the time having a password on a site and detecting the IP address of who's using it and greeting them, that sort of stuff was absolute magic to do..."
● "... which came first? Angel investing or starting a company?"
● "... Was it a personal relationship, the first investment that you made as an angel?"
● Advice to the Audience
]]>
Brazilian startup MirScience Therapeutics is working on reversing muscle loss. I had an illuminating chat with co-founder Milena Peregrino, PhD about the technology and the company's progress.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Brazilian startup MirScience Therapeutics is working on reversing muscle loss. I had an illuminating chat with co-founder Milena Peregrino, PhD about the technology and the company's progress.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Highlights:
● Sal Daher Introduces Agustin Lopez Marquez
● "... my co-founder, who happens to be my wife, Brinda, she was the one that started the company and the first product about a couple of years back..."
● "... The idea here is that these are meals for explorers, for people who like to venture out, travel. This is not pizza or your usual weekend fare for the kids, and so forth..."
● "... it's an infrastructure play that has happened in the last three to five years. It's modular kitchens that are just the kitchens that are meant for delivery-only companies..."
● "... You're going to become like the McDonald's of adventurous eating..."
● "... we already have more than 10 drivers that consistently, every Tuesday, they choose to work for Khipi as opposed to working for any other food delivery company..."
● "... I understand you have 400 customers ordering right now. 90 of those are super dedicated and they order every week. They give you 80% of your business..."
Topics: co-founders, culture, discovering entrepreneurship, robotics/AI
Title: AI for Discovery Dining
]]>
Highlights:
● Sal Daher Introduces Agustin Lopez Marquez
● "... my co-founder, who happens to be my wife, Brinda, she was the one that started the company and the first product about a couple of years back..."
● "... The idea here is that these are meals for explorers, for people who like to venture out, travel. This is not pizza or your usual weekend fare for the kids, and so forth..."
● "... it's an infrastructure play that has happened in the last three to five years. It's modular kitchens that are just the kitchens that are meant for delivery-only companies..."
● "... You're going to become like the McDonald's of adventurous eating..."
● "... we already have more than 10 drivers that consistently, every Tuesday, they choose to work for Khipi as opposed to working for any other food delivery company..."
● "... I understand you have 400 customers ordering right now. 90 of those are super dedicated and they order every week. They give you 80% of your business..."
Topics: co-founders, culture, discovering entrepreneurship, robotics/AI
Title: AI for Discovery Dining
]]>
Repeat founder Todd Zion, PhD is back to update us on exciting developments at his second biotech startup, Akston Bio. We also geeked out a bit on how these magical proteins are concocted in the company's bioreactors. Fun and instructive chat with a stellar founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, COVID, discovering entrepreneurship
]]>
Repeat founder Todd Zion, PhD is back to update us on exciting developments at his second biotech startup, Akston Bio. We also geeked out a bit on how these magical proteins are concocted in the company's bioreactors. Fun and instructive chat with a stellar founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, COVID, discovering entrepreneurship
]]>
Rather than purloin my kids' Ritalin, I play EndeavorOTC daily to improve my attention and be sharper. Eddie Martucci, PhD is the founder of Akili that developed the app which is backed by real science. In fact, the kid's version is FDA-cleared to treat ADHD in 8-12 year olds. Don't miss this great chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Sal Daher Introduces Eddie Martucci
The Science Behind EndeavorOTC
"... This is not IQ. This is attention. You can have extremely high IQ or low IQ and have a high attention score and low IQ or vice versa..."
"... people with ADHD, it is not that they don't want to pay attention ... It's that that system of the brain that allows you to filter out what's irrelevant to your goal and focus in on what's relevant, that part of the brain, that interference filter is weakened..."
"... You cannot become addicted to it because can't do it for more than 25 minutes period..."
Eddie's Entrepreneurial Journey
Advice to the Audience
Topics: discovering entrepreneurship, founding story, product
]]>
Rather than purloin my kids' Ritalin, I play EndeavorOTC daily to improve my attention and be sharper. Eddie Martucci, PhD is the founder of Akili that developed the app which is backed by real science. In fact, the kid's version is FDA-cleared to treat ADHD in 8-12 year olds. Don't miss this great chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Sal Daher Introduces Eddie Martucci
The Science Behind EndeavorOTC
"... This is not IQ. This is attention. You can have extremely high IQ or low IQ and have a high attention score and low IQ or vice versa..."
"... people with ADHD, it is not that they don't want to pay attention ... It's that that system of the brain that allows you to filter out what's irrelevant to your goal and focus in on what's relevant, that part of the brain, that interference filter is weakened..."
"... You cannot become addicted to it because can't do it for more than 25 minutes period..."
Eddie's Entrepreneurial Journey
Advice to the Audience
Topics: discovering entrepreneurship, founding story, product
]]>
The third time is the charm for Piction Health. Super founder Susan Conover is back to talk about the third iteration of their business model which is showing promise of scaling profitably. Her AI has ingested a million diagnosed images of hair and skin conditions and is now making dermatologists 15X more productive. See for yourself at PictionHealth.com.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI
]]>
The third time is the charm for Piction Health. Super founder Susan Conover is back to talk about the third iteration of their business model which is showing promise of scaling profitably. Her AI has ingested a million diagnosed images of hair and skin conditions and is now making dermatologists 15X more productive. See for yourself at PictionHealth.com.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI
]]>
Rotator cuff tears are debilitating. What if you could take action to avoid them? Rabeeh Majidi, PhD founded OrthoKinetic Track to do just that through a wearable device and a predictive algorithm. Listen to our chat to learn more.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Rotator cuff tears are debilitating. What if you could take action to avoid them? Rabeeh Majidi, PhD founded OrthoKinetic Track to do just that through a wearable device and a predictive algorithm. Listen to our chat to learn more.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Richard Vlasimsky is using AI to create a low-cost way of vastly expanding our ability to detect lung cancer early. His algorithm for detecting lung nodules in chest x-rays just got FDA clearance. Listen to this remarkable founder who's done a lot with modest funding.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI, founding story
]]>
Richard Vlasimsky is using AI to create a low-cost way of vastly expanding our ability to detect lung cancer early. His algorithm for detecting lung nodules in chest x-rays just got FDA clearance. Listen to this remarkable founder who's done a lot with modest funding.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI, founding story
]]>
Growing new cartilage in your knees is a dream about to become reality. Listen to Ben Holmes, PhD, co-founder of Nanochon, to learn about his promising technology. Shoutout to Richard Meiklejohn of M2D2 for the introduction.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Growing new cartilage in your knees is a dream about to become reality. Listen to Ben Holmes, PhD, co-founder of Nanochon, to learn about his promising technology. Shoutout to Richard Meiklejohn of M2D2 for the introduction.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
During COVID, Readlee, Drew Madson's startup, offered teachers a highly effective way to measure and remedy reading deficits among online learners. This led to the company being acquired by Paper, the tutoring platform. An inspiring interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
During COVID, Readlee, Drew Madson's startup, offered teachers a highly effective way to measure and remedy reading deficits among online learners. This led to the company being acquired by Paper, the tutoring platform. An inspiring interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
Tech founder David Kessler discusses his journey as an angel investor in companies such as CleanFiber, Wasabi, and Hilltop Bio.
Sponsored by Purdue University enrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, building wealth, product
]]>
Tech founder David Kessler discusses his journey as an angel investor in companies such as CleanFiber, Wasabi, and Hilltop Bio.
Sponsored by Purdue University enrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, building wealth, product
]]>
Salvatore Viscomi, M.D. is CEO of Carna Health, a digital platform that is making it easier for patients with chronic conditions to do tests at home that would normally have to be done in the hospital.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, product, robotics/AI
]]>
Salvatore Viscomi, M.D. is CEO of Carna Health, a digital platform that is making it easier for patients with chronic conditions to do tests at home that would normally have to be done in the hospital.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, product, robotics/AI
]]>https://www.hmrnatick.com/about_us
Highlights:
● Sal Daher Introduces Jina Klapisch
● What Sets HMR Apart From the Rest
● How HMR Works
● "... What you're doing here is helping people discover the things that are easy for them to do repeatedly and make them into habits, and not try to do stuff that's hard, impossible for them..."
● Decision-Free
● Sal's Diet Journey at the Age of Thirteen
● Oprah and HMR
● "... when you're trying to make a very big change in your life, whether it's quitting smoking or quitting drinking, or with food, you need to take a break from that substance ... so that you can see clearly as you lose this weight and start to really figure out who I am as an eater..."
● How Your Environment Can Affect Your Weight
● Outlive by Peter Attia MD
● "... The first half mile that you walk every single day is the golden half mile. The first mile you walk is the golden mile. That is going to add years to your life..."
● Advice to the Audience
● Jina's Background
● "... 80% of weight loss is keeping it off, the hard part..."
● Jina's Parting Thoughts
]]>https://www.hmrnatick.com/about_us
Highlights:
● Sal Daher Introduces Jina Klapisch
● What Sets HMR Apart From the Rest
● How HMR Works
● "... What you're doing here is helping people discover the things that are easy for them to do repeatedly and make them into habits, and not try to do stuff that's hard, impossible for them..."
● Decision-Free
● Sal's Diet Journey at the Age of Thirteen
● Oprah and HMR
● "... when you're trying to make a very big change in your life, whether it's quitting smoking or quitting drinking, or with food, you need to take a break from that substance ... so that you can see clearly as you lose this weight and start to really figure out who I am as an eater..."
● How Your Environment Can Affect Your Weight
● Outlive by Peter Attia MD
● "... The first half mile that you walk every single day is the golden half mile. The first mile you walk is the golden mile. That is going to add years to your life..."
● Advice to the Audience
● Jina's Background
● "... 80% of weight loss is keeping it off, the hard part..."
● Jina's Parting Thoughts
]]>Highlights:
Topic: Healthy Aging
Guest: Sal Daher
Title: Staircase Wit: Shake Tech
]]>Highlights:
Topic: Healthy Aging
Guest: Sal Daher
Title: Staircase Wit: Shake Tech
]]>
Highlights:
Topic: Healthy Aging
Guest: Sal Daher
Title: Tech & Weight Control
]]>
Highlights:
Topic: Healthy Aging
Guest: Sal Daher
Title: Tech & Weight Control
]]>
Getting enough sleep is important to Sal Daher's effort to keep off 100 pounds. This short episode discusses how sleep connects with weight and how to improve sleep in support of weight control.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topic: Healthy Aging
]]>
Getting enough sleep is important to Sal Daher's effort to keep off 100 pounds. This short episode discusses how sleep connects with weight and how to improve sleep in support of weight control.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topic: Healthy Aging
]]>
Sal Daher, CFA discusses the role of exercise in his keeping off 100 pounds of body weight with no drugs and no surgery, just good habits for eating, exercising and sleeping. Listen for tips and for encouragement on building your exercise plan.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topic: Healthy Aging
]]>
Sal Daher, CFA discusses the role of exercise in his keeping off 100 pounds of body weight with no drugs and no surgery, just good habits for eating, exercising and sleeping. Listen for tips and for encouragement on building your exercise plan.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topic: Healthy Aging
]]>Highlights:
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Layne Sadler founded KeyBio to help pharmaceutical companies better identify genetic traits in patients that may explain differing responses to cancer treatments. KeyBio's computational approach promises to add a new dimension to precision medicine, which now looks at the genetics of the tumor, by also incorporating the genetics of the patient to improve outcomes in clinical trials.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, discovering entrepreneurship
]]>
Layne Sadler founded KeyBio to help pharmaceutical companies better identify genetic traits in patients that may explain differing responses to cancer treatments. KeyBio's computational approach promises to add a new dimension to precision medicine, which now looks at the genetics of the tumor, by also incorporating the genetics of the patient to improve outcomes in clinical trials.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, discovering entrepreneurship
]]>
After a career at DARPA, defending America from cyber threats, Jason Syversen founded Siege Technologies which had a great exit. He now focuses on angel investing and philanthropy. Inspiring chat.
Sponsored by Purdue University entrepreneurship, and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
After a career at DARPA, defending America from cyber threats, Jason Syversen founded Siege Technologies which had a great exit. He now focuses on angel investing and philanthropy. Inspiring chat.
Sponsored by Purdue University entrepreneurship, and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>Highlights:
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Topics: discovering entrepreneurship, founding story, platform
Title: Worldhaus.co
]]>Highlights:
Topics: discovering entrepreneurship, founding story, platform
Title: Worldhaus.co
]]>
Highlights:
Topics: angel investing strategies, management, portfolio
]]>
Highlights:
Topics: angel investing strategies, management, portfolio
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Fiza Shaukat founded Patient First.AI to make a difference in the healthcare systems in areas outside the US, such as Pakistan. She decided to create a platform which would allow patients to keep their healthcare data on a digital health card. This card would make the check-in process much faster and efficient.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, robotics/AI, founding story
]]>
Fiza Shaukat founded Patient First.AI to make a difference in the healthcare systems in areas outside the US, such as Pakistan. She decided to create a platform which would allow patients to keep their healthcare data on a digital health card. This card would make the check-in process much faster and efficient.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, robotics/AI, founding story
]]>
Yousof Naderi, professor at Northeastern University, is co-founder of DeepCharge, which is commercializing a new technology for charging batteries without cables. Intriguing look at how our lives could change as our devices are untethered.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
Yousof Naderi, professor at Northeastern University, is co-founder of DeepCharge, which is commercializing a new technology for charging batteries without cables. Intriguing look at how our lives could change as our devices are untethered.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
The deep experience Carolina Alarco has gained in the biotech industry now informs her work as an advisor to startups and as an angel investor. Her incisive contributions at Walnut Ventures made me eager to learn more about her story and approach.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
The deep experience Carolina Alarco has gained in the biotech industry now informs her work as an advisor to startups and as an angel investor. Her incisive contributions at Walnut Ventures made me eager to learn more about her story and approach.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, discovering entrepreneurship
]]>
Chris Selland works at Squark.AI, a startup company that uses AI and machine learning with customer data from things such as games and delivery services to help with predictions of delivery time.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Sal Daher Introduces Chris Selland
Squark AI and What It's Solving
"... All of those types of predictions is essentially what we do with the model. Now, we do have some other customers using us for other purposes. For instance, a very large package delivery firm is using us, actually, for prediction of packages that might be late..."
"... This, I think, highlights really the importance of networking and staying in touch with people that you've worked with successfully. Make sure that you stay in touch with them because you will have that twice annual conversation that you might have with someone that you worked two companies back with..."
Squark in the Gaming Industry
The Future of Squark
Advice to the Audience
Topics: discovering entrepreneurship, founding story, robotics/AI
]]>
Chris Selland works at Squark.AI, a startup company that uses AI and machine learning with customer data from things such as games and delivery services to help with predictions of delivery time.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Sal Daher Introduces Chris Selland
Squark AI and What It's Solving
"... All of those types of predictions is essentially what we do with the model. Now, we do have some other customers using us for other purposes. For instance, a very large package delivery firm is using us, actually, for prediction of packages that might be late..."
"... This, I think, highlights really the importance of networking and staying in touch with people that you've worked with successfully. Make sure that you stay in touch with them because you will have that twice annual conversation that you might have with someone that you worked two companies back with..."
Squark in the Gaming Industry
The Future of Squark
Advice to the Audience
Topics: discovering entrepreneurship, founding story, robotics/AI
]]>
Mike Nolan is an angel investor specializing in machine learning. As an officer in the Air Force he trained fighter pilots on F-15s. Mike relates the opportunities offered by graduate work at MIT both professionally and in investing. Fun chat with a buddy from Walnut and a listener to the podcast.
Highlights:
Topics: angel investing strategies, biotech, robotics/AI
]]>
Mike Nolan is an angel investor specializing in machine learning. As an officer in the Air Force he trained fighter pilots on F-15s. Mike relates the opportunities offered by graduate work at MIT both professionally and in investing. Fun chat with a buddy from Walnut and a listener to the podcast.
Highlights:
Topics: angel investing strategies, biotech, robotics/AI
]]>Here's the text on which my talk was based:
Historical Perspective on SVB's Failure for Investors & Founders
This is Sal Daher of the Angel Invest Boston podcast. Prior to becoming an investor in tech startups, I spent decades as a banker and trader involved with the distressed debt of countries. My experience came in handy recently in allowing me to reassure the startups in my portfolio with deposits at SVB that the FDIC would have no option but to make all depositors whole.
This piece aims to explain why the business model of banks and past government decisions precluded any other options. It also points to ways that founders can manage deposit risk. While it bothers me to see well-off people bailed out by the taxpayer, it is the necessary if imperfect course of action until we make structural changes to hold bank management more accountable.
Why was I so certain in my assurances? Because financial authorities in the US and other countries had learned a hard lesson back when Lehman Brothers (not a deposit-taking bank) was allowed to fail in September of 2008. Lehman's bankruptcy set off an inevitable chain of events that led to the meltdown of the market for credit risk insurance. This revealed pervasive rot in financial instruments widely held by institutions starved for yields. Thus began the Sub-Prime Crisis that ruined millions and blighted the career of so many of my colleagues in finance for nearly a decade.
The hard lesson learned was that when a financial panic gets going it's impossible to tell where it will stop. The term contagion is apt. Financial authorities understood the need to take prompt steps to reassure investors not to make irrational moves that could impoverish us all. Back in 2008 they ended up taking over banks which created lasting distortions, some of which are still with us today.
While the circumstances of SVB's failure are different from Lehman's, the fundamental lesson of maintaining the orderly functioning of financial markets still applies. If the FDIC had stuck strictly to its $250K deposit insurance limit (which BTW had been $100K until the Lehman event) chaos would have ensued. Depositors everywhere would have immediately started spreading any holding in excess of $250K to other banks to avoid the possibility of loss and could have melted down the entire banking system. An impaired banking system would have resulted in hundreds of thousands of companies going under and millions of people losing their jobs. So, preventing financial panic is a public service for the entire population. It's comparable to the fire department. Fire brigades were set up to prevent individual house fires from spreading and burning down entire neighborhoods.
There is a fundamental flaw in the business model of banks. Banks lend long and borrow short. Borrowers want to repay banks months or years into the future. Depositors usually are not willing to tie up their money for more than a few months. This creates a mismatch between the maturity of loans made by banks (assets) and deposits taken by banks (liabilities). The delicate balance between assets and liabilities is hard to achieve. This is why banks keep cash reserves on hand, i.e., they don't lend out all their deposits. They also have short-term borrowing lines with other banks or the Federal Reserve to make sure they have cash meet all their obligations.
But if enough depositors decide that a bank is impaired, even the soundest bank would not be able to meet the demand for immediate payment without outside help. This is the role the FDIC has come to play. A role with which I am not entirely comfortable, but as we have seen, is essential as things stand.
Many argue that unlimited deposit guarantee removes the incentive from depositors to vet a banks' books. In the absence of this vetting there is a natural temptation for banks to take all the risk possible with depositor's money because if things go well the bank's shares will go up and the management will get bonuses. This moral hazard of deposit guarantees is supposedly mitigated by regulations that limit how much a bank can lend and impose minimum capital requirements.
Unfortunately, the regulations failed in the case of SVB. The bank appeared to meet its capital requirements but when depositors started to draw out money, it started to sell its reserves. This prompted changes as to how assets were valued and put it suddenly in default of capital requirements. This led to a failed attempt to raise more equity in the stock market.
One moment SVB seemed fine, the next moment it was on the rocks. Bank books are complicated beyond the ability of even the most sophisticated depositor to figure out. The idea of savvy depositors keeping banks honest is fanciful. The only parties who have any hope of knowing enough about what's going on in the bank are its management and its board of directors. I support making bank directors and senior management personally liable if a federal rescue is needed.
So, what's a founder to do when holding more than $250,000 in cash? One thing to consider is to have the funds in more than one bank, if only to avoid a sleepless weekend as so many founders experienced recently. But that only gets you up to protecting $500,000 or $750,000. Another option to consider is putting funds into money market funds held by Fidelity, Schwab or Vanguard. Funds held in custody for a beneficiary are legally protected from claims against the entity. This does not mean that there is no risk. Even safe money market instruments may lose value in times of stress, but the exposure to any one entity is much less concentrated. There's always the risk of fraud or unauthorized trades but those are not usually system-wide and the entities usually make good on those.
Founders are in the business of sailing in uncharted waters. However, many of the risks that threaten a startup are known to accountants and board members. My advice is to bring up the matter of risk with your CFO and your board. If you don't have one it's time you found at least a fractional CFO and functioning board.
If found this brief piece useful I invite you to follow Angel Invest Boston on your podcast app. Thanks for listening. This is Sal Daher.
]]>
Here's the text on which my talk was based:
Historical Perspective on SVB's Failure for Investors & Founders
This is Sal Daher of the Angel Invest Boston podcast. Prior to becoming an investor in tech startups, I spent decades as a banker and trader involved with the distressed debt of countries. My experience came in handy recently in allowing me to reassure the startups in my portfolio with deposits at SVB that the FDIC would have no option but to make all depositors whole.
This piece aims to explain why the business model of banks and past government decisions precluded any other options. It also points to ways that founders can manage deposit risk. While it bothers me to see well-off people bailed out by the taxpayer, it is the necessary if imperfect course of action until we make structural changes to hold bank management more accountable.
Why was I so certain in my assurances? Because financial authorities in the US and other countries had learned a hard lesson back when Lehman Brothers (not a deposit-taking bank) was allowed to fail in September of 2008. Lehman's bankruptcy set off an inevitable chain of events that led to the meltdown of the market for credit risk insurance. This revealed pervasive rot in financial instruments widely held by institutions starved for yields. Thus began the Sub-Prime Crisis that ruined millions and blighted the career of so many of my colleagues in finance for nearly a decade.
The hard lesson learned was that when a financial panic gets going it's impossible to tell where it will stop. The term contagion is apt. Financial authorities understood the need to take prompt steps to reassure investors not to make irrational moves that could impoverish us all. Back in 2008 they ended up taking over banks which created lasting distortions, some of which are still with us today.
While the circumstances of SVB's failure are different from Lehman's, the fundamental lesson of maintaining the orderly functioning of financial markets still applies. If the FDIC had stuck strictly to its $250K deposit insurance limit (which BTW had been $100K until the Lehman event) chaos would have ensued. Depositors everywhere would have immediately started spreading any holding in excess of $250K to other banks to avoid the possibility of loss and could have melted down the entire banking system. An impaired banking system would have resulted in hundreds of thousands of companies going under and millions of people losing their jobs. So, preventing financial panic is a public service for the entire population. It's comparable to the fire department. Fire brigades were set up to prevent individual house fires from spreading and burning down entire neighborhoods.
There is a fundamental flaw in the business model of banks. Banks lend long and borrow short. Borrowers want to repay banks months or years into the future. Depositors usually are not willing to tie up their money for more than a few months. This creates a mismatch between the maturity of loans made by banks (assets) and deposits taken by banks (liabilities). The delicate balance between assets and liabilities is hard to achieve. This is why banks keep cash reserves on hand, i.e., they don't lend out all their deposits. They also have short-term borrowing lines with other banks or the Federal Reserve to make sure they have cash meet all their obligations.
But if enough depositors decide that a bank is impaired, even the soundest bank would not be able to meet the demand for immediate payment without outside help. This is the role the FDIC has come to play. A role with which I am not entirely comfortable, but as we have seen, is essential as things stand.
Many argue that unlimited deposit guarantee removes the incentive from depositors to vet a banks' books. In the absence of this vetting there is a natural temptation for banks to take all the risk possible with depositor's money because if things go well the bank's shares will go up and the management will get bonuses. This moral hazard of deposit guarantees is supposedly mitigated by regulations that limit how much a bank can lend and impose minimum capital requirements.
Unfortunately, the regulations failed in the case of SVB. The bank appeared to meet its capital requirements but when depositors started to draw out money, it started to sell its reserves. This prompted changes as to how assets were valued and put it suddenly in default of capital requirements. This led to a failed attempt to raise more equity in the stock market.
One moment SVB seemed fine, the next moment it was on the rocks. Bank books are complicated beyond the ability of even the most sophisticated depositor to figure out. The idea of savvy depositors keeping banks honest is fanciful. The only parties who have any hope of knowing enough about what's going on in the bank are its management and its board of directors. I support making bank directors and senior management personally liable if a federal rescue is needed.
So, what's a founder to do when holding more than $250,000 in cash? One thing to consider is to have the funds in more than one bank, if only to avoid a sleepless weekend as so many founders experienced recently. But that only gets you up to protecting $500,000 or $750,000. Another option to consider is putting funds into money market funds held by Fidelity, Schwab or Vanguard. Funds held in custody for a beneficiary are legally protected from claims against the entity. This does not mean that there is no risk. Even safe money market instruments may lose value in times of stress, but the exposure to any one entity is much less concentrated. There's always the risk of fraud or unauthorized trades but those are not usually system-wide and the entities usually make good on those.
Founders are in the business of sailing in uncharted waters. However, many of the risks that threaten a startup are known to accountants and board members. My advice is to bring up the matter of risk with your CFO and your board. If you don't have one it's time you found at least a fractional CFO and functioning board.
If found this brief piece useful I invite you to follow Angel Invest Boston on your podcast app. Thanks for listening. This is Sal Daher.
]]>
Topics: product, management, discovering entrepreneurship
Title: Physical Therapy That Works
]]>Topics: product, management, discovering entrepreneurship
Title: Physical Therapy That Works
]]>Highlights:
● Sal Daher Introduces Aidan Yeaw
● NODE40
● NODE40 Founding Story
● Unruly Studios
● "... The other component to it is that they're programming, but they're doing physical movement, physical exercise, large motor, physical exercise, running around, jumping up and down, and so forth because kids are too sedentary..."
● How Aidan Came to Angel Investing
● "... There's an ecosystem of small-scale venture capitalists that are growing, but the opportunities are so numerous, and the venture capitalists are so few, that they're an excess of opportunities, and a lack of funding, a lack of capacity to address this..."
● CoolSculpting
● Aidan's Career Journey in Fintech
● Advice to the Audience
Topics: fin tech, angel investing strategies, crypto
Title: Founder & Angel
]]>Highlights:
● Sal Daher Introduces Aidan Yeaw
● NODE40
● NODE40 Founding Story
● Unruly Studios
● "... The other component to it is that they're programming, but they're doing physical movement, physical exercise, large motor, physical exercise, running around, jumping up and down, and so forth because kids are too sedentary..."
● How Aidan Came to Angel Investing
● "... There's an ecosystem of small-scale venture capitalists that are growing, but the opportunities are so numerous, and the venture capitalists are so few, that they're an excess of opportunities, and a lack of funding, a lack of capacity to address this..."
● CoolSculpting
● Aidan's Career Journey in Fintech
● Advice to the Audience
Topics: fin tech, angel investing strategies, crypto
Title: Founder & Angel
]]>
Jay DeVivo's angel investing ranges far from his insurance background. Here we discuss his involvement with startups such as Hubly Surgical, FleetNurse, and ApprentiScope. Fun chat with a lively guest.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, product
]]>
Jay DeVivo's angel investing ranges far from his insurance background. Here we discuss his involvement with startups such as Hubly Surgical, FleetNurse, and ApprentiScope. Fun chat with a lively guest.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, product
]]>
Leen Kawas PhD, managing general partner at Propel Bio Partners, invests in life science companies such as Persephone Biosciences and Inherent Bio that promise immediate benefits for humanity. An uplifting chat with a dynamic VC and founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: building wealth, management, raising money
]]>
Leen Kawas PhD, managing general partner at Propel Bio Partners, invests in life science companies such as Persephone Biosciences and Inherent Bio that promise immediate benefits for humanity. An uplifting chat with a dynamic VC and founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: building wealth, management, raising money
]]>Highlights include:
Highlights include:
Paul Hartung returns to talk about how to fund promising biotech and life science companies. He continues his conversation from his previous episode discussing his past experience with angel investing.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, building wealth
]]>
Paul Hartung returns to talk about how to fund promising biotech and life science companies. He continues his conversation from his previous episode discussing his past experience with angel investing.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, biotech, building wealth
]]>
What if automation could help patients better follow their prescriptions? Natalie Park and Saumya Rawat met at MIT and are co-founders of Pharmesol which seeks to do this.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: co-founders, discovering entrepreneurship, founding story
]]>
What if automation could help patients better follow their prescriptions? Natalie Park and Saumya Rawat met at MIT and are co-founders of Pharmesol which seeks to do this.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: co-founders, discovering entrepreneurship, founding story
]]>
Finding a less noxious way to sterilize medical devices is the goal of CL Tian, winner as MedTech Innovator '22. She founded Phiex to commercialize a sterilant that allows devices to sterilize themselves in the presence of light. Industry is listening to this compelling founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story, product
]]>
Finding a less noxious way to sterilize medical devices is the goal of CL Tian, winner as MedTech Innovator '22. She founded Phiex to commercialize a sterilant that allows devices to sterilize themselves in the presence of light. Industry is listening to this compelling founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story, product
]]>
Paul Hartung is an angel investor involved in the life sciences field. Here, he discusses how he helps build companies such as Leuko, Clairways, Verisense, and others in the MedTech space.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, product, venture capital
]]>
Paul Hartung is an angel investor involved in the life sciences field. Here, he discusses how he helps build companies such as Leuko, Clairways, Verisense, and others in the MedTech space.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, product, venture capital
]]>
Founder, entrepreneur, and angel, Richard Lane, explains his experience investing in companies such as Alice's Table and The Jitterbug phone.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, founding story, product
]]>
Founder, entrepreneur, and angel, Richard Lane, explains his experience investing in companies such as Alice's Table and The Jitterbug phone.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, founding story, product
]]>Highlights:
Topics: software, product
Title: Augmented Reality for Hearing Loss
]]>
Highlights:
Topics: software, product
Title: Augmented Reality for Hearing Loss
]]>
This timeless interview is being relaunched to make available the wise and affable words of Professor Chuck Eesley.
Introduction
The Traumatic Founding Experience
Shivang Dave, PlenOptika & Entrepreneurs in Poor Countries
How Chuck Eesley Ended Up at MIT Studying with Ed Roberts
The Economic Impact of MIT & Stanford: Millions of Jobs Created & Trillions in Economic Activity
"And the other big takeaway is that we had been looking at the impact of these universities in too narrow of a way previously."
Robust Finding: Larger Teams Do Better; Startups Tend to Have Teams that Are Too Small
Chuck Gets a Great Idea for Research While Hiking with a Friend
Cooperative vs. Competitive Commercialization
"…, if the industry is high in the effectiveness of patent protection, and high in the importance of complementary assets ... you're motivated to go and talk to the big guys, because you need their complementary assets…"
"…low effectiveness of patent protection, low importance of complementary assets, that's where you tend to get competitive commercialization…"
"Are You Experienced, or Are You Talented?"
Sal Talks About the Impact of Portfolio Company Concrete Sensors
Evidence-based Entrepreneurship
Blockchain to Make it Easier to Finance Supply Chains
"And with that additional data, then we can also start to optimize more and more of the startup process, and do a better job of picking which ventures to invest in, and to devote resources towards."
The Value of Thrift in Life and in Entrepreneurship
Chuck & Family Plan to Give Their Money to the Universities that Made Their Success Possible
"So, I think it [thrift] is an underappreciated value. And definitely in Silicon Valley…"
Early Google Investor David Cheriton Is a Role Model for Chuck
Chuck's Parting Thoughts: (1) Entrepreneurs Can Change Their Luck, (2) If Chuck's Projects Interest You, Reach Out, and (3) Be Frugal in Life and in Entrepreneurship.
This timeless interview is being relaunched to make available the wise and affable words of Professor Chuck Eesley.
HIGHLIGHTS INCLUDE:Introduction
The Traumatic Founding Experience
Shivang Dave, PlenOptika & Entrepreneurs in Poor Countries
How Chuck Eesley Ended Up at MIT Studying with Ed Roberts
The Economic Impact of MIT & Stanford: Millions of Jobs Created & Trillions in Economic Activity
"And the other big takeaway is that we had been looking at the impact of these universities in too narrow of a way previously."
Robust Finding: Larger Teams Do Better; Startups Tend to Have Teams that Are Too Small
Chuck Gets a Great Idea for Research While Hiking with a Friend
Cooperative vs. Competitive Commercialization
"…, if the industry is high in the effectiveness of patent protection, and high in the importance of complementary assets ... you're motivated to go and talk to the big guys, because you need their complementary assets…"
"…low effectiveness of patent protection, low importance of complementary assets, that's where you tend to get competitive commercialization…"
"Are You Experienced, or Are You Talented?"
Sal Talks About the Impact of Portfolio Company Concrete Sensors
Evidence-based Entrepreneurship
Blockchain to Make it Easier to Finance Supply Chains
"And with that additional data, then we can also start to optimize more and more of the startup process, and do a better job of picking which ventures to invest in, and to devote resources towards."
The Value of Thrift in Life and in Entrepreneurship
Chuck & Family Plan to Give Their Money to the Universities that Made Their Success Possible
"So, I think it [thrift] is an underappreciated value. And definitely in Silicon Valley…"
Early Google Investor David Cheriton Is a Role Model for Chuck
Chuck's Parting Thoughts: (1) Entrepreneurs Can Change Their Luck, (2) If Chuck's Projects Interest You, Reach Out, and (3) Be Frugal in Life and in Entrepreneurship.
Stephane Allard, MD and Peter MacGuire of Alissa Pharma explained the company's promising approach to treating cancers like Hodgkin's lymphoma or pancreatic cancer which over-express a certain protein on the surface of tumor cells. Alissa's therapy targets this protein with antibodies linked to radioactive material that decays quickly. The result is destruction of tumor cells with reduced toxicity. A really compelling chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, product
]]>
Stephane Allard, MD and Peter MacGuire of Alissa Pharma explained the company's promising approach to treating cancers like Hodgkin's lymphoma or pancreatic cancer which over-express a certain protein on the surface of tumor cells. Alissa's therapy targets this protein with antibodies linked to radioactive material that decays quickly. The result is destruction of tumor cells with reduced toxicity. A really compelling chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, product
]]>
Ten years ago, Pierre-Louis Théron dreamed of changing the internet. With two classmates at a top French engineering school, he created software that improved the streaming of content. The dream became portfolio company Streamroot which was acquired in 2019. A great story about three guys who made the internet smarter.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
Ten years ago, Pierre-Louis Théron dreamed of changing the internet. With two classmates at a top French engineering school, he created software that improved the streaming of content. The dream became portfolio company Streamroot which was acquired in 2019. A great story about three guys who made the internet smarter.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>
Arturo Falck and Steven Valenti founded Whoo.ai to help owners and tenants of apartment buildings deal with security and buzzing people in. Their device connects to a free app giving tenants a Ring doorbell-like experience. A clever go-to-market strategy promises quick adoption.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, co-founders, founding story
]]>
Arturo Falck and Steven Valenti founded Whoo.ai to help owners and tenants of apartment buildings deal with security and buzzing people in. Their device connects to a free app giving tenants a Ring doorbell-like experience. A clever go-to-market strategy promises quick adoption.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, co-founders, founding story
]]>
Infection is a major problem for long-term users of catheters. Souvik Paul saw the problem in his family and founded Aurie. Based at Harvard's i-lab, Aurie has a design that promises more safety and convenience. The reusable self-catheter is backed by a grant from the Department of Defense. Do listen to this committed and capable founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Infection is a major problem for long-term users of catheters. Souvik Paul saw the problem in his family and founded Aurie. Based at Harvard's i-lab, Aurie has a design that promises more safety and convenience. The reusable self-catheter is backed by a grant from the Department of Defense. Do listen to this committed and capable founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>
Inspired by a tragedy Dr. Junaid Shaik built a device that radically lowers the cost of tests on blood smears. Livo.AI is now translating its experience in India to the US. Shout out to listener Sudhir Manda, MD for connecting me with this compelling founder and startup.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, discovering entrepreneurship
]]>
Inspired by a tragedy Dr. Junaid Shaik built a device that radically lowers the cost of tests on blood smears. Livo.AI is now translating its experience in India to the US. Shout out to listener Sudhir Manda, MD for connecting me with this compelling founder and startup.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, discovering entrepreneurship
]]>Founder Casey Grage has a better device for drilling into human skulls. Hear how her personal story led to the founding of Hubly Surgical. A truly compelling narrative.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>Founder Casey Grage has a better device for drilling into human skulls. Hear how her personal story led to the founding of Hubly Surgical. A truly compelling narrative.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, founding story
]]>Tomer Amit and Sonia Berrih-Aknin, PhD founded PreciseMent Health to target treatments for depression and bipolar disorder guided by protein markers associated with good outcomes. The work promises to address the great uncertainties that exist in current treatment practices. Truly a mind-expanding conversation with a compelling team.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, co-founders, founding stories
]]>Tomer Amit and Sonia Berrih-Aknin, PhD founded PreciseMent Health to target treatments for depression and bipolar disorder guided by protein markers associated with good outcomes. The work promises to address the great uncertainties that exist in current treatment practices. Truly a mind-expanding conversation with a compelling team.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, co-founders, founding stories
]]>Founder Tim Spong is back to update us on how vistaPath.ai went from product discovery to real-life operations. Our first interview was part of my due diligence for this digital health investment that is now VC-backed. A really instructive and fun chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI
]]>Founder Tim Spong is back to update us on how vistaPath.ai went from product discovery to real-life operations. Our first interview was part of my due diligence for this digital health investment that is now VC-backed. A really instructive and fun chat.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, discovering entrepreneurship, robotics/AI
]]>Greg Geehan is co-founder of Carna Health, a connected health startup. Carna is removing friction from blood testing with an at-home kit for patients unable to go to a lab for a draw. Great chat with an interesting entrepreneur.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, biotech, founding story, robotics/AI
]]>Greg Geehan is co-founder of Carna Health, a connected health startup. Carna is removing friction from blood testing with an at-home kit for patients unable to go to a lab for a draw. Great chat with an interesting entrepreneur.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, biotech, founding story, robotics/AI
]]>Lisa Frusztajer is Investor in Residence at The Capital Network, where she supports founders in raising angel money more effectively. We discussed some exciting startups that have benefitted from Lisa's wisdom, skill and network. A powerful episode!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, management
]]>Lisa Frusztajer is Investor in Residence at The Capital Network, where she supports founders in raising angel money more effectively. We discussed some exciting startups that have benefitted from Lisa's wisdom, skill and network. A powerful episode!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, management
]]>Mark Ribeiro is managing partner at Juna Equity Partners in NYC, a growth equity firm that grew out of part of GE Capital. Since one of my portfolio companies was acquired by a growth equity firm, I thought it would be fun to learn more about this type acquirer.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: boards, angel investing strategies, management
]]>Mark Ribeiro is managing partner at Juna Equity Partners in NYC, a growth equity firm that grew out of part of GE Capital. Since one of my portfolio companies was acquired by a growth equity firm, I thought it would be fun to learn more about this type acquirer.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: boards, angel investing strategies, management
]]>As a practitioner working with foot injuries, Eric Greenspan became so excited about the potential of the smart insole developed by startup IWS that he joined the team. Great chat about the promising field of connected devices in healthcare. Walking six miles per day gives me a strong appreciation for Eric's work.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, product
]]>As a practitioner working with foot injuries, Eric Greenspan became so excited about the potential of the smart insole developed by startup IWS that he joined the team. Great chat about the promising field of connected devices in healthcare. Walking six miles per day gives me a strong appreciation for Eric's work.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, product
]]>Nurses were a big part of the frequent medical care Alicia Tulsee's family needed. This led to conversations about how uncomfortable, expensive and ill-fitting were the work clothes available to nurses. Moxie Scrubs was founded to solve that problem. Don't miss this great conversation with a compelling founder.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>Nurses were a big part of the frequent medical care Alicia Tulsee's family needed. This led to conversations about how uncomfortable, expensive and ill-fitting were the work clothes available to nurses. Moxie Scrubs was founded to solve that problem. Don't miss this great conversation with a compelling founder.
Highlights:
Topics: discovering entrepreneurship, founding story, product
]]>Yun Rhie, Minwoo Jung, and Minjun Kim are the founders of WittGen. The company is working with AI to create a more efficient platform for treating cancer, a field which tends to have a lower treatment success rate due to its complexity.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: robotics/AI, biotech, founding stories
]]>Yun Rhie, Minwoo Jung, and Minjun Kim are the founders of WittGen. The company is working with AI to create a more efficient platform for treating cancer, a field which tends to have a lower treatment success rate due to its complexity.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: robotics/AI, biotech, founding stories
]]>Seeking to match endometriosis patients with doctors most capable of treating the disease, Dr. Saeid Gholami founded iCareBetter. With a background in primary care, Saeid now works with AI to find better solutions to this issue and spread awareness of its importance.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: robotics/AI, founding story, discovering entrepreneurship
]]>Seeking to match endometriosis patients with doctors most capable of treating the disease, Dr. Saeid Gholami founded iCareBetter. With a background in primary care, Saeid now works with AI to find better solutions to this issue and spread awareness of its importance.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: robotics/AI, founding story, discovering entrepreneurship
]]>Sherine Abdelmawla, PhD, founded Akanocure Pharmaceuticalsto combine chemistryand AI in a platform for discovering effective drugs that can be easily produced at scale. The first use case is a cancer therapy. Great chat with a compelling founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, robotics/AI
]]>Sherine Abdelmawla, PhD, founded Akanocure Pharmaceuticalsto combine chemistryand AI in a platform for discovering effective drugs that can be easily produced at scale. The first use case is a cancer therapy. Great chat with a compelling founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, founding story, robotics/AI
]]>Tech VC and founder Jeff Rosen talks about his favorite portfolio companies at Broom Ventures and how his fund came about. He also tells a compelling story from his days at Teach For America.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: co-founders, portfolio
]]>Tech VC and founder Jeff Rosen talks about his favorite portfolio companies at Broom Ventures and how his fund came about. He also tells a compelling story from his days at Teach For America.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: co-founders, portfolio
]]>CEO Ryan Eriksen and CTO Annie Bernard founded Sol Clarity, with the help of Malav Sukhadia, to develop a way to clean solar panels in areas where water is limited. It uses static electricity to remove dust and debris, while lowering the carbon footprint and using minimal energy.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: cleantech, co-founders, discovering entrepreneurship, founding stories
]]>CEO Ryan Eriksen and CTO Annie Bernard founded Sol Clarity, with the help of Malav Sukhadia, to develop a way to clean solar panels in areas where water is limited. It uses static electricity to remove dust and debris, while lowering the carbon footprint and using minimal energy.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: cleantech, co-founders, discovering entrepreneurship, founding stories
]]>Jake Tamarkin's startup, Everyday Life, uses machine learning to match people who don't fit the traditional mold of buyers with insurers eager for their business. Jake's personal experience in buying a life policy surfaced this compelling opportunity.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, discovering entrepreneurship, software
]]>Jake Tamarkin's startup, Everyday Life, uses machine learning to match people who don't fit the traditional mold of buyers with insurers eager for their business. Jake's personal experience in buying a life policy surfaced this compelling opportunity.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, discovering entrepreneurship, software
]]>Life science founder and angel investor, Marc Cote, discusses his experience in investing, as well as developing startups. He has valuable thoughts for founders and investors.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, founding story
]]>Life science founder and angel investor, Marc Cote, discusses his experience in investing, as well as developing startups. He has valuable thoughts for founders and investors.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, founding story
]]>Joe Phoenix founded Givinga to democratize philanthropy. After a luminous career in investments, he is turning his fruitful energies and network to build a new space he calls philantech. A dynamic chat with a remarkable founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, discovering entrepreneurship
]]>Joe Phoenix founded Givinga to democratize philanthropy. After a luminous career in investments, he is turning his fruitful energies and network to build a new space he calls philantech. A dynamic chat with a remarkable founder.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, discovering entrepreneurship
]]>A career in international finance gives Marco Salvalaggio an unusual perspective on angel investing. We discussed his favorite startups and pondered strategies founders and angels can use to build better companies.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, fin tech
]]>A career in international finance gives Marco Salvalaggio an unusual perspective on angel investing. We discussed his favorite startups and pondered strategies founders and angels can use to build better companies.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship, fin tech
]]>Gathering scattered medical data about a patient and giving it to the doctor in time for a visit is Connective Health's aim. Founder, Ryan Hess, updates us on the progress of his startup in improving care and lowering costs.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story
]]>Gathering scattered medical data about a patient and giving it to the doctor in time for a visit is Connective Health's aim. Founder, Ryan Hess, updates us on the progress of his startup in improving care and lowering costs.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: discovering entrepreneurship, founding story
]]>David Fogel, CPA, is an angel investor who teaches entrepreneurship at Northeastern University. His company, Swifton CFOs, offers fractional chief financial officers to startups. We discussed strategies to help angel investors.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship
]]>David Fogel, CPA, is an angel investor who teaches entrepreneurship at Northeastern University. His company, Swifton CFOs, offers fractional chief financial officers to startups. We discussed strategies to help angel investors.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, discovering entrepreneurship
]]>Carter Williams went from building fighter jets to building technology startups. A mind-expanding conversation with a VC who grapples with big ideas. Topics range from the future of food to how to get more people into the innovation economy.
Highlights:
Topics: portfolio, venture capital, biotech
Title: The Future of Food
]]>Carter Williams went from building fighter jets to building technology startups. A mind-expanding conversation with a VC who grapples with big ideas. Topics range from the future of food to how to get more people into the innovation economy.
Highlights:
Topics: portfolio, venture capital, biotech
Title: The Future of Food
]]>Orly Zeewy is a brand wiz with a focus on startups. Her book, Ready, Launch, Brand: The Lean Marketing Guide for Startups, offers success stories and actionable exercises which help founders build their brand. Great chat, learned tons.
Sponsored by Purdue University entrepreneurship and Peter Fasse, at Fish and Richardson.
Highlights:
Topics: selling, platform, discovering entrepreneurship
]]>Orly Zeewy is a brand wiz with a focus on startups. Her book, Ready, Launch, Brand: The Lean Marketing Guide for Startups, offers success stories and actionable exercises which help founders build their brand. Great chat, learned tons.
Sponsored by Purdue University entrepreneurship and Peter Fasse, at Fish and Richardson.
Highlights:
Topics: selling, platform, discovering entrepreneurship
]]>Investing modest sums and copious energy, Ben Littauer helps tech companies sprout. His focus is startups that do the most good for the world. Founders and angel investors value Ben's advice greatly.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patebt attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, raising money, discovering entrepreneurship
]]>Investing modest sums and copious energy, Ben Littauer helps tech companies sprout. His focus is startups that do the most good for the world. Founders and angel investors value Ben's advice greatly.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patebt attorney at Fish and Richardson.
Highlights:
Topics: angel investing strategies, raising money, discovering entrepreneurship
]]>AI is coming for the pesky chores of bookkeeping. Enrico Palmerino, founder of VC-backed Botkeeper, relates how machine learning is helping accountants and their clients. Compelling founder with a great story.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Topics: robotics/Ai, founding story, product
]]>AI is coming for the pesky chores of bookkeeping. Enrico Palmerino, founder of VC-backed Botkeeper, relates how machine learning is helping accountants and their clients. Compelling founder with a great story.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Topics: robotics/Ai, founding story, product
]]>Bacterial growth in an IV caused a kid to lose his legs. Shocked by the tragedy, young physician Maryam Soomro began researching solutions. Her startup, TuCann, now uses black phosphorus tech from RMIT, Australia's MIT, to fight infection. Heartening!
Sponsored by Purdue University entreprenuership and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, techstars, discovering entrepreneurship
]]>Bacterial growth in an IV caused a kid to lose his legs. Shocked by the tragedy, young physician Maryam Soomro began researching solutions. Her startup, TuCann, now uses black phosphorus tech from RMIT, Australia's MIT, to fight infection. Heartening!
Sponsored by Purdue University entreprenuership and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: biotech, techstars, discovering entrepreneurship
]]>It can take days to identify the cause of a bacterial infection; Ed Goluch, PhD founded QSM Diagnostics to change that. QSM now has a device that can detect a bacteria of interest in minutes. Ed updates us on the headway QSM has made since his first interview, Diagnosis in Minutes.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, product, discovering entrepreneurship
]]>It can take days to identify the cause of a bacterial infection; Ed Goluch, PhD founded QSM Diagnostics to change that. QSM now has a device that can detect a bacteria of interest in minutes. Ed updates us on the headway QSM has made since his first interview, Diagnosis in Minutes.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson.
Highlights:
Topics: founding story, product, discovering entrepreneurship
]]>Eduardo Jorgensen founded Medicsen to improve the care of people with diabetes. Witnessing the struggles of patients taking insulin inspired Eduardo to leave medicine and build a device and an app to simplify the control of blood sugar by patients.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: Biotech, Discovering Entrepreneurship, Founding Story
]]>Eduardo Jorgensen founded Medicsen to improve the care of people with diabetes. Witnessing the struggles of patients taking insulin inspired Eduardo to leave medicine and build a device and an app to simplify the control of blood sugar by patients.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: Biotech, Discovering Entrepreneurship, Founding Story
]]>While at Harvard Medical School, Senan Ebrahim was deeply affected by witnessing a still birth. Convinced better data could have avoided the tragedy, he founded Delfina Care with Priyanka Vaidya from EMOTIV, the EEG platform, and his brother Ali Ebrahim, PhD, a former Tech Lead at Google. Senan and Priyanka joined me for a great chat about the exciting things happening in digital health.
Highlights:
Topics: biotech, product, robotics / AI
]]>While at Harvard Medical School, Senan Ebrahim was deeply affected by witnessing a still birth. Convinced better data could have avoided the tragedy, he founded Delfina Care with Priyanka Vaidya from EMOTIV, the EEG platform, and his brother Ali Ebrahim, PhD, a former Tech Lead at Google. Senan and Priyanka joined me for a great chat about the exciting things happening in digital health.
Highlights:
Topics: biotech, product, robotics / AI
]]>Exited founder Sean Kevlahan, PhD tells the story of Quad Technologies and how an interesting polymer contributed to the explosion of cell therapies in the last decade. Sean gives great advice for biotech founders and investors, and joins Armon Sharei in my pantheon of chemical engineers who are gifted communicators.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patents attorney at Fish & Richardson.
Highlights:
Topics: biotech, partnerships with strategics, pivot, returns, IP / patents, Mass Challenge
]]>Exited founder Sean Kevlahan, PhD tells the story of Quad Technologies and how an interesting polymer contributed to the explosion of cell therapies in the last decade. Sean gives great advice for biotech founders and investors, and joins Armon Sharei in my pantheon of chemical engineers who are gifted communicators.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patents attorney at Fish & Richardson.
Highlights:
Topics: biotech, partnerships with strategics, pivot, returns, IP / patents, Mass Challenge
]]>Founder Justin Real tells us how Realplay Sports survived the COVID pause and set itself up to serve booming customer demand in 2022 and 2023. In the 2-year hiatus, Realplay expanded the type customers it can address and brought in partners to enrich its product offering. An inspiring chat with a compelling founder.
Sponsored by Purdue University entrepreneuship and Peter Fasse, patent attorney at Fish & Richardson.
Highlights:
Topics: product, raising money, partnerships with strategics, COVID
]]>Founder Justin Real tells us how Realplay Sports survived the COVID pause and set itself up to serve booming customer demand in 2022 and 2023. In the 2-year hiatus, Realplay expanded the type customers it can address and brought in partners to enrich its product offering. An inspiring chat with a compelling founder.
Sponsored by Purdue University entrepreneuship and Peter Fasse, patent attorney at Fish & Richardson.
Highlights:
Topics: product, raising money, partnerships with strategics, COVID
]]>Founder & VC Aaron Michel of 1984.vc on portfolio companies, Reggora, Faimarkit and Relevize and how they exemplify the firm's approach to seed-stage investing. Aaron also gives Sal a mind-expanding suggestion on angel-scale biotech. Compelling & jargon-free!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Topics: founding story, competition, venture capital
]]>
Founder & VC Aaron Michel of 1984.vc on portfolio companies, Reggora, Faimarkit and Relevize and how they exemplify the firm's approach to seed-stage investing. Aaron also gives Sal a mind-expanding suggestion on angel-scale biotech. Compelling & jargon-free!
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Topics: founding story, competition, venture capital
]]>
Qiuyan Xu, PhD is a statistician, an entrepreneur and a colleague at Walnut. We talked about the startups she has invested in, her immigrant journey and the work she does at Gravitate AI (https://www.gravitate.ai)
Sponsors: Purdue University entrepreneurship & Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: robotics / AI, discovering entrepreneurship, angel investing strategies
]]>
Qiuyan Xu, PhD is a statistician, an entrepreneur and a colleague at Walnut. We talked about the startups she has invested in, her immigrant journey and the work she does at Gravitate AI (https://www.gravitate.ai)
Sponsors: Purdue University entrepreneurship & Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: robotics / AI, discovering entrepreneurship, angel investing strategies
]]>
Slater Victoroff founded Indico Data in his dorm room at Olin in 2012. Two years later Indico had gone through Techstars and was VC-backed. Hear the story of how making deep learning accessible to enterprise customers led to massive growth.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: founding story, robotics / AI, Techstars
]]>
Slater Victoroff founded Indico Data in his dorm room at Olin in 2012. Two years later Indico had gone through Techstars and was VC-backed. Hear the story of how making deep learning accessible to enterprise customers led to massive growth.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: founding story, robotics / AI, Techstars
]]>
Practicing urologist and founder Jeremy Wiygul, MD believes millions of people are suffering needlessly due to the inadequate delivery of effective treatment, among these his own wife. Pelex aims to use new technology to integrate existing resources and greatly enhance patient outcomes for people with pelvic floor problems such as incontinence. A fun chat with a compelling founder.
Sponsors: Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: biotech, discovering entrepreneurship, software
]]>Practicing urologist and founder Jeremy Wiygul, MD believes millions of people are suffering needlessly due to the inadequate delivery of effective treatment, among these his own wife. Pelex aims to use new technology to integrate existing resources and greatly enhance patient outcomes for people with pelvic floor problems such as incontinence. A fun chat with a compelling founder.
Sponsors: Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: biotech, discovering entrepreneurship, software
]]>Susan Conover of Piction Health, is building an AI to improve results and reduce costs in the treatment of skin conditions. Piction has amassed 500,000 diagnosed images and is already helping primary care physicians interpret skin problems in patients. A great chat with an inspiring founder.
Highlights:
Topics: Mass Challenge, Techstars, robotics AI, discovering entrepreneurship
]]>Susan Conover of Piction Health, is building an AI to improve results and reduce costs in the treatment of skin conditions. Piction has amassed 500,000 diagnosed images and is already helping primary care physicians interpret skin problems in patients. A great chat with an inspiring founder.
Highlights:
Topics: Mass Challenge, Techstars, robotics AI, discovering entrepreneurship
]]>Psychiatrist and founder Jacqueline Olds on her startup and her mission to fight loneliness in America. Words of wisdom and lots of laughs in this interview that could actually make your life better.
Brought to you by:
Highlights:
Psychiatrist and founder Jacqueline Olds on her startup and her mission to fight loneliness in America. Words of wisdom and lots of laughs in this interview that could actually make your life better.
Brought to you by:
Highlights:
The miracle-working CEO of portfolio company Finetune Learning is back to tell us about the latest developments in applying artificial intelligence in educational assessments. We also got into remote work and explored how to support younger workers in creating professional networks while working remotely.
Sponsored by:
Highlights:
Topics: edtech, management, robotics / AI, software
]]>The miracle-working CEO of portfolio company Finetune Learning is back to tell us about the latest developments in applying artificial intelligence in educational assessments. We also got into remote work and explored how to support younger workers in creating professional networks while working remotely.
Sponsored by:
Highlights:
Topics: edtech, management, robotics / AI, software
]]>SPVs (Special Purpose Vehicles) are democratizing startup investing. In this interview with Jeremy Neilson, founder of Assure.co, we discussed how founders and angels can benefit from these increasingly economical platforms and what they mean for the future.
Highlights:
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Topics: discovering entrepreneurship, fin tech, angel investing strategies
]]>SPVs (Special Purpose Vehicles) are democratizing startup investing. In this interview with Jeremy Neilson, founder of Assure.co, we discussed how founders and angels can benefit from these increasingly economical platforms and what they mean for the future.
Highlights:
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Topics: discovering entrepreneurship, fin tech, angel investing strategies
]]>The dynamic duo of founder Adam Martel and super angel Christopher Mirabile are back on the podcast to report on the sale of Gravyty and to discuss Adam's new startup, Givzey.
Highlights:
Topics: product, exits, biotech
]]>The dynamic duo of founder Adam Martel and super angel Christopher Mirabile are back on the podcast to report on the sale of Gravyty and to discuss Adam's new startup, Givzey.
Highlights:
Topics: product, exits, biotech
]]>Adam de Sola Pool, a highly successful pioneer in green tech investing in the 1990s, now sees huge opportunities in blue tech. Don't miss this fascinating tour of ocean technologies conducted by an engaging investor/guide.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: product, exits, portfolio, venture capital
]]>Adam de Sola Pool, a highly successful pioneer in green tech investing in the 1990s, now sees huge opportunities in blue tech. Don't miss this fascinating tour of ocean technologies conducted by an engaging investor/guide.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Highlights:
Topics: product, exits, portfolio, venture capital
]]>VeraMorph has a new way to deliver insoluble drugs by mouth. Founder Doug Godfrin, PhD elucidates the promise of accessing the 85% of drugs that are not soluble. Does VeraMorph pass Sal Daher's screen for angel-scale biotech? Listen and find out.
Sponsors: Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson
Highlights:
Topics: biotech
]]>VeraMorph has a new way to deliver insoluble drugs by mouth. Founder Doug Godfrin, PhD elucidates the promise of accessing the 85% of drugs that are not soluble. Does VeraMorph pass Sal Daher's screen for angel-scale biotech? Listen and find out.
Sponsors: Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish and Richardson
Highlights:
Topics: biotech
]]>Topics: management, angel investing strategies, biotech, pivot
]]>Topics: management, angel investing strategies, biotech, pivot
]]>Artificial intelligence guru Gil Syswerda is back to talk about angel investing and to give practical advice to founders. We closed with entertaining stories from Gil's career.
Highlights:
Topics: co-founders, angel investing strategies, management
]]>Artificial intelligence guru Gil Syswerda is back to talk about angel investing and to give practical advice to founders. We closed with entertaining stories from Gil's career.
Highlights:
Topics: co-founders, angel investing strategies, management
]]>Sponsored by Purdue University entrepreneurship and peter Fasse, patent attorney at Fish & Richardson
Founder Matt Breen of Rahoo Baby is back to update us on the progress of the company and on their new product, Walk Block. This startup is building a brand around helping parents support the cognitive development of their babies.
Highlights:
Topics: co-founders, raising money, selling, product
]]>Sponsored by Purdue University entrepreneurship and peter Fasse, patent attorney at Fish & Richardson
Founder Matt Breen of Rahoo Baby is back to update us on the progress of the company and on their new product, Walk Block. This startup is building a brand around helping parents support the cognitive development of their babies.
Highlights:
Topics: co-founders, raising money, selling, product
]]>Don't miss this inspiring interview. Topics covered include:
Topics: venture capital, angel investing strategies, Techstars, focus, co-founders, founding story, exits, pivot
]]>Don't miss this inspiring interview. Topics covered include:
Topics: venture capital, angel investing strategies, Techstars, focus, co-founders, founding story, exits, pivot
]]>Listener Robert Nagle is a mathy software guy and an angel investor. We had a great chat which included his perceptions of the risks in biotech investing and also discussed some of the companies in his portfolio. This is an instructive conversation with a thoughtful angel investor.
Sponsored by:
Highlights:
Topics: angel investing strategies, biotech
]]>Listener Robert Nagle is a mathy software guy and an angel investor. We had a great chat which included his perceptions of the risks in biotech investing and also discussed some of the companies in his portfolio. This is an instructive conversation with a thoughtful angel investor.
Sponsored by:
Highlights:
Topics: angel investing strategies, biotech
]]>
Here are some highlights from this eye-opening interview:
[The Product Is Called Triton and Has Been Adopted at 30 Hospitals and Used on 100,000 patients Already]
Topics: robotics / AI, discovering entrepreneurship, founding story
]]>
Here are some highlights from this eye-opening interview:
[The Product Is Called Triton and Has Been Adopted at 30 Hospitals and Used on 100,000 patients Already]
Topics: robotics / AI, discovering entrepreneurship, founding story
]]>Salvatore Viscomi, MD founded his own startup and is now with GoodCell which isolates and stores cells of healthy patients who may need them for future cell therapies. The startup is founded by David Scadden, MD of the Harvard Stem Cell Institute. A truly informative interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney.
Highlights:
Topics: biotech, co-founders, discovering entrepreneurship, IP / patents
]]>Salvatore Viscomi, MD founded his own startup and is now with GoodCell which isolates and stores cells of healthy patients who may need them for future cell therapies. The startup is founded by David Scadden, MD of the Harvard Stem Cell Institute. A truly informative interview.
Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney.
Highlights:
Topics: biotech, co-founders, discovering entrepreneurship, IP / patents
]]>Virtual visits & robotics to improve greatly the recovery of stroke patients. Chrissy Glover & her startup, Imago Rehab, are taking to market technology from Harvard's Biodesign Lab informed by deep experience in how stroke rehabilitation is done now.
Highlights:
Sponsored by:
Topics: product, robotics / AI, co-founders, Mass Challenge, platform, founding story
]]>Virtual visits & robotics to improve greatly the recovery of stroke patients. Chrissy Glover & her startup, Imago Rehab, are taking to market technology from Harvard's Biodesign Lab informed by deep experience in how stroke rehabilitation is done now.
Highlights:
Sponsored by:
Topics: product, robotics / AI, co-founders, Mass Challenge, platform, founding story
]]>Harvard's Tom Eisenmann is the author of Why Startups Fail: A New Roadmap for Entrepreneurial Success. We discussed valuable lessons from the book and how they might apply to biotech startups.
Highlights:
Sponsored by:
Topics: biotech, management, co-founders, Mass Challenge, raising money, scholar, venture capital
]]>Harvard's Tom Eisenmann is the author of Why Startups Fail: A New Roadmap for Entrepreneurial Success. We discussed valuable lessons from the book and how they might apply to biotech startups.
Highlights:
Sponsored by:
Topics: biotech, management, co-founders, Mass Challenge, raising money, scholar, venture capital
]]>Genius founder Sam Bogoch of Axle.ai returns to the podcast to tells us the secrets of equity crowdfunding. Axle.ai helps enterprises with massive video files make them usable. The startup has found great success on Republic and Sam has wisdom to share.
Highlights:
Topics: fundraising, Robotics / AI, software
]]>Genius founder Sam Bogoch of Axle.ai returns to the podcast to tells us the secrets of equity crowdfunding. Axle.ai helps enterprises with massive video files make them usable. The startup has found great success on Republic and Sam has wisdom to share.
Highlights:
Topics: fundraising, Robotics / AI, software
]]>Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Hesitant about investing in biotech startups? Founder Çağrı Savran and I discuss the unique opportunities and requirements of angel-scale life science startups. This is the first in a series of biotech angel bootcamps.
Highlights:
Topics: biotech, management, angel investing strategies
]]>Sponsored by Purdue University entrepreneurship and Peter Fasse, patent attorney at Fish & Richardson
Hesitant about investing in biotech startups? Founder Çağrı Savran and I discuss the unique opportunities and requirements of angel-scale life science startups. This is the first in a series of biotech angel bootcamps.
Highlights:
Topics: biotech, management, angel investing strategies
]]>Artificial General Intelligence (AGI) is the whole ball game. Whoever gets it first will rule. Who's ahead and how to bet on them; this is only part of the excellent second chat with AI wiz Gil Syswerda.
Highlights:
Artificial General Intelligence (AGI) is the whole ball game. Whoever gets it first will rule. Who's ahead and how to bet on them; this is only part of the excellent second chat with AI wiz Gil Syswerda.
Highlights:
Mostly diagnosed in late stages, ovarian cancer is a silent killer of women. Oriana Papin-Zoghbi of AOA Dx aims to defeat this threat. Fresh out of Y Combinator, the team is making impressive headway in commercializing a promising technology from McGill University.
Highlights:
Topics: biotech, co-founders, founding story, fundraising
]]>Mostly diagnosed in late stages, ovarian cancer is a silent killer of women. Oriana Papin-Zoghbi of AOA Dx aims to defeat this threat. Fresh out of Y Combinator, the team is making impressive headway in commercializing a promising technology from McGill University.
Highlights:
Topics: biotech, co-founders, founding story, fundraising
]]>Sponsored by:
The best measure of a founder is how much she can get done with limited resources. By this metric, Bryanne Leeming is an outstanding founder.
Two years before she had a paper prototype and vague hopes for a Kickstarter program. At the time we spoke she had a sleek physical product that's gaining market. She also had the software to make it valuable and had completed a successful Kickstarter campaign.
The interview with Bryanne Leeming left me inspired.
Here's some of what we talked about:
Sponsored by:
The best measure of a founder is how much she can get done with limited resources. By this metric, Bryanne Leeming is an outstanding founder.
Two years before she had a paper prototype and vague hopes for a Kickstarter program. At the time we spoke she had a sleek physical product that's gaining market. She also had the software to make it valuable and had completed a successful Kickstarter campaign.
The interview with Bryanne Leeming left me inspired.
Here's some of what we talked about:
In December of 2017 I interviewed Çağrı Savran, Ph.D. about plans for his startup in which I had just invested. Almost four years later I interviewed him again to review the progress of the company which is changing the way breast cancer is followed up after treatment.
Highlights:
In December of 2017 I interviewed Çağrı Savran, Ph.D. about plans for his startup in which I had just invested. Almost four years later I interviewed him again to review the progress of the company which is changing the way breast cancer is followed up after treatment.
Highlights:
Sponsored by:
I invested in Savran Tech back in 2017 around the time of the first part of this interview. Recently I sat down with Cagri Savran to review the progress of his remarkable biotech startup in the last four years. Listen to the original interview followed by a recent update.
Here is a list of the topics discussed:
Sponsored by:
I invested in Savran Tech back in 2017 around the time of the first part of this interview. Recently I sat down with Cagri Savran to review the progress of his remarkable biotech startup in the last four years. Listen to the original interview followed by a recent update.
Here is a list of the topics discussed:
AI wiz, founder and angel investor Gil Syswerda on building algorithms and companies. This episode focuses on Gil's biography and his startups. It's the first in-studio interview since spring 2020. We had a blast!
Highlights:
Topics: software, robotics / AI, product, selling, management, boards, co-founders
]]>
AI wiz, founder and angel investor Gil Syswerda on building algorithms and companies. This episode focuses on Gil's biography and his startups. It's the first in-studio interview since spring 2020. We had a blast!
Highlights:
Topics: software, robotics / AI, product, selling, management, boards, co-founders
]]>
Medical records are way less informative to doctors than patients imagine. Electronic health records (EHRs) have failed to deliver on their promise to improve health care for forty years. Ryan Hess, founder of Connective Health, means to change that. I invited digital health founder Martín Aboitiz to co-host this valuable interview with me.
Highlights:
Topics: software, product, fundraising
]]>Medical records are way less informative to doctors than patients imagine. Electronic health records (EHRs) have failed to deliver on their promise to improve health care for forty years. Ryan Hess, founder of Connective Health, means to change that. I invited digital health founder Martín Aboitiz to co-host this valuable interview with me.
Highlights:
Topics: software, product, fundraising
]]>His father, Ithiel de Sola Pool, the brilliant political scientist (look up Six Degrees of Separation or Convergence) took young Adam to many different countries. These travels sparked in Adam an interest in geography which led to a job on Wall Street. From Salomon Brothers he went to the EBRD to restructure companies emerging from communism. This grew into setting up Central Europe's first cleantech fund which produced excellent results. Now Adam is an investor and advisor in the Boston area; much respected for his fresh approach to building young companies.
Topics covered in this charming interview include:
Topics: cleantech, founding story, angel investing strategies, portfolio, returns
]]>His father, Ithiel de Sola Pool, the brilliant political scientist (look up Six Degrees of Separation or Convergence) took young Adam to many different countries. These travels sparked in Adam an interest in geography which led to a job on Wall Street. From Salomon Brothers he went to the EBRD to restructure companies emerging from communism. This grew into setting up Central Europe's first cleantech fund which produced excellent results. Now Adam is an investor and advisor in the Boston area; much respected for his fresh approach to building young companies.
Topics covered in this charming interview include:
Topics: cleantech, founding story, angel investing strategies, portfolio, returns
]]>Podcast Sponsored by:
Greg Raiz founded app-building colossus Raizlabs and sold it in 2017. He's now the head of Techstars Boston and has big ideas in mind. Be you founder or angel, listen to this luminous interview for practical advice and inspiration on building startups.
Highlights:
Podcast Sponsored by:
Greg Raiz founded app-building colossus Raizlabs and sold it in 2017. He's now the head of Techstars Boston and has big ideas in mind. Be you founder or angel, listen to this luminous interview for practical advice and inspiration on building startups.
Highlights:
His book "Wealth & Families" gives invaluable advice on how to make money and keep enough of it to hand down to the generations. My personal favorite is illustrated by this quote from the interview:
"Whereas, some of my colleagues were going off consulting ... They were making a lot of money every day, and they go their XKE [Jaguar XKE, a coveted sports car of the era] quite quickly. I went off to places like Lima, Ohio, and I was paid $300 a day, but I got 1% of the company."
Howard Stevenson was forgoing high current income, and consumption, for the ability to own promising assets that would build his wealth in the long term. This approach contributed to Professor Stevenson becoming rich enough to need a family office to manage his money.
iTunes Page for the Podcast Where You Can Review and Subscribe
The topics covered in this dynamic conversation include:
His book "Wealth & Families" gives invaluable advice on how to make money and keep enough of it to hand down to the generations. My personal favorite is illustrated by this quote from the interview:
"Whereas, some of my colleagues were going off consulting ... They were making a lot of money every day, and they go their XKE [Jaguar XKE, a coveted sports car of the era] quite quickly. I went off to places like Lima, Ohio, and I was paid $300 a day, but I got 1% of the company."
Howard Stevenson was forgoing high current income, and consumption, for the ability to own promising assets that would build his wealth in the long term. This approach contributed to Professor Stevenson becoming rich enough to need a family office to manage his money.
iTunes Page for the Podcast Where You Can Review and Subscribe
The topics covered in this dynamic conversation include:
Sponsors:
Thrice-exited founder Jon Hirschtick of SolidWorks and Onshape fame, talks about the promise of cloud-based technologies and how to build successful businesses in the space. Jon's a good sport and a fun guest.
Highlights:
Topics: founding stories, fundraising, software, venture funding
]]>Sponsors:
Thrice-exited founder Jon Hirschtick of SolidWorks and Onshape fame, talks about the promise of cloud-based technologies and how to build successful businesses in the space. Jon's a good sport and a fun guest.
Highlights:
Topics: founding stories, fundraising, software, venture funding
]]>Ty Danco is an outlier in a population of outliers. His interests are varied and pursued passionately. He's founded two fintech companies, he's invested in a gazillion startups and he's been a hugely generous advisor to companies, in fact the chief advisor at Techstars. Oh, I forgot to mention he's an Olympian and also deeply involved with crypto-currencies. In this really meaty interview, Ty and I covered a wide range of topics. He explained his ideas in his affably quirky way. This was a super fun conversation.
Quotes:
"Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers."
"So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly.
I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once."
Topics covered include:
Topics: fintech, crypto, angel investing strategies, techstars
]]>Ty Danco is an outlier in a population of outliers. His interests are varied and pursued passionately. He's founded two fintech companies, he's invested in a gazillion startups and he's been a hugely generous advisor to companies, in fact the chief advisor at Techstars. Oh, I forgot to mention he's an Olympian and also deeply involved with crypto-currencies. In this really meaty interview, Ty and I covered a wide range of topics. He explained his ideas in his affably quirky way. This was a super fun conversation.
Quotes:
"Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers."
"So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly.
I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once."
Topics covered include:
Topics: fintech, crypto, angel investing strategies, techstars
]]>Sponsored by Peter Fasse, Patent Attorney at Fish & Richardson
Born out of COVID in 2020, TBD Angels is Boston's newest angel group. In its first seventeen months it has already invested in forty startups. Members David Chang and Yael deCapo spoke about what TBD offers startups and investors.
Highlights:
Topics: angel investing strategies, biotech, robotics / AI
]]>Sponsored by Peter Fasse, Patent Attorney at Fish & Richardson
Born out of COVID in 2020, TBD Angels is Boston's newest angel group. In its first seventeen months it has already invested in forty startups. Members David Chang and Yael deCapo spoke about what TBD offers startups and investors.
Highlights:
Topics: angel investing strategies, biotech, robotics / AI
]]>Join Sal's Investment Syndicate: Click to Join
This podcast is brought to you by Peter Fasse, patent attorney at Fish & Richardson: https://www.fr.com/team/j-peter-fasse/
While in prep school Matt Singer performed at a religious ceremony and became fascinated with the impact his music had on the congregants. This fascination led Matt Singer to major in music at Yale, where he graduated Summa Cum Laude, and to think of how to make a life in music. Matt hit the streets soon after graduating to start his music business. For ten years he built Dawn Treader Production with marquee names such as Paul McCartney, James Earl Jones and the New York Philharmonic. Relying on the emotional connection possible on TV, he sold the CDs he produced by the tens of thousands on QVC. In 2007 he joined co-founder Amanda Eilian, in starting a company that is now changing the way large enterprises communicate with their customers and employees via video. Videolicious makes it easy for employees to produce polished videos personalized to particular clients that make emotional connections. The platform is now used by 4,000,000 users in 100 countries, it's even taught at 90 schools of journalism. Backed by Amazon and VC money, this startup is poised for continued growth.
This is the story of someone who followed what seems to be an impractical passion but managed to create something that is useful to large numbers of paying customers. Listen to this candid and introspective conversation with a young man who thinks deeply but acts practically. In particular, I liked what he had to say about how founders can prepare their psyche for the arduous journey of building their startup:
"It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
Matt Singer Actively Looks for a Way to Turn His Passion for Music into a Living, and Succeeds
The Story of The Talk Market Which Became Videolicious
How Matt Connected with his Great Co-founder, Amanda Eilian
What Videolicious Does Today
Sal Daher Reads a Review from Listener ChangDS and Ask Listeners to Leave a Review on iTunes
The Pivot that Turned The Talk Market into Videolicious
The Vision Stayed the Same, the Implementation Changed
Great Point about Finding Your Focus
"From the perspective of entrepreneurs, I think it's just good to note that you can have a vision but there are a lot of choices along the way in terms of who should you really sell to."
Videolicious is Taught at 90 Schools of Journalism – It's Becoming Ingrained
Instead of a Sales Binder Videolicious Allows You to Send Your Customer a Compelling Personalized Video
"Video is becoming the standard way that people create content."
Videolicious' Board Has Been Very Supportive – They've Been Amenable to Reasoned Arguments
"Yeah, you've heard that theme of focus, focus, focus, but exactly what that means is not always super clear."
"Wow. What do I need not only just to get in the door, but also to keep them forever?"
How Matt Singer Got Amazon as an Early Investor in His Company
How Videolicious' VC Backers Help with More than Money
The Interesting Route Videolicious Took to VC Funding
The Path Ahead for Videolicious – Making Video Creation Ever Easier & More Effective
Matt Singer's Three Bits of Advice for New Founders
"Definitely finding a great co-founder is important… someone that you can really work with… work through thick and thin, because there's going to be ups and downs constantly and so it's great to have someone that can support you and you can support them."
"…thinking through the entire lifecycle of your customer from the acquisition to renewal."
Having a Long-term View Is Crucial in Selling to Enterprise Customers
Because Everybody Works from Home, Videolicious Looks for Self-starters
" I do find that being able to tell the story and the vision is a good way to attract talent."
Other Startups That Matt Singer Admires – Companies That Make Using their Product Super Easy
What Matt Singer Has in Common with C.S. Lewis
"…most technology is pretty disruptive for your average employee. It's different than what they're used to doing. That's what you have to contend with as a startup, you assume that's a big jump, even if your product in the isolation is easy."
Matt Singer's Parting Thoughts – A Truly Valuable Observation
"It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
This podcast is brought to you by Peter Fasse, patent attorney at Fish & Richardson: https://www.fr.com/team/j-peter-fasse/
While in prep school Matt Singer performed at a religious ceremony and became fascinated with the impact his music had on the congregants. This fascination led Matt Singer to major in music at Yale, where he graduated Summa Cum Laude, and to think of how to make a life in music. Matt hit the streets soon after graduating to start his music business. For ten years he built Dawn Treader Production with marquee names such as Paul McCartney, James Earl Jones and the New York Philharmonic. Relying on the emotional connection possible on TV, he sold the CDs he produced by the tens of thousands on QVC. In 2007 he joined co-founder Amanda Eilian, in starting a company that is now changing the way large enterprises communicate with their customers and employees via video. Videolicious makes it easy for employees to produce polished videos personalized to particular clients that make emotional connections. The platform is now used by 4,000,000 users in 100 countries, it's even taught at 90 schools of journalism. Backed by Amazon and VC money, this startup is poised for continued growth.
This is the story of someone who followed what seems to be an impractical passion but managed to create something that is useful to large numbers of paying customers. Listen to this candid and introspective conversation with a young man who thinks deeply but acts practically. In particular, I liked what he had to say about how founders can prepare their psyche for the arduous journey of building their startup:
"It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
HERE ARE THE TOPICS COVERED AND SOME QUOTES: ","url":"https://vimeo.com/321825305","width":640,"height":360,"providerName":"Vimeo","thumbnailUrl":"https://i.vimeocdn.com/video/764632209_640.jpg","resolvedBy":"vimeo"}" data-block-type="32"> " data-provider-name="Vimeo">Matt Singer Actively Looks for a Way to Turn His Passion for Music into a Living, and Succeeds
The Story of The Talk Market Which Became Videolicious
How Matt Connected with his Great Co-founder, Amanda Eilian
What Videolicious Does Today
Sal Daher Reads a Review from Listener ChangDS and Ask Listeners to Leave a Review on iTunes
The Pivot that Turned The Talk Market into Videolicious
The Vision Stayed the Same, the Implementation Changed
Great Point about Finding Your Focus
"From the perspective of entrepreneurs, I think it's just good to note that you can have a vision but there are a lot of choices along the way in terms of who should you really sell to."
Videolicious is Taught at 90 Schools of Journalism – It's Becoming Ingrained
Instead of a Sales Binder Videolicious Allows You to Send Your Customer a Compelling Personalized Video
"Video is becoming the standard way that people create content."
Videolicious' Board Has Been Very Supportive – They've Been Amenable to Reasoned Arguments
"Yeah, you've heard that theme of focus, focus, focus, but exactly what that means is not always super clear."
"Wow. What do I need not only just to get in the door, but also to keep them forever?"
How Matt Singer Got Amazon as an Early Investor in His Company
How Videolicious' VC Backers Help with More than Money
The Interesting Route Videolicious Took to VC Funding
The Path Ahead for Videolicious – Making Video Creation Ever Easier & More Effective
Matt Singer's Three Bits of Advice for New Founders
"Definitely finding a great co-founder is important… someone that you can really work with… work through thick and thin, because there's going to be ups and downs constantly and so it's great to have someone that can support you and you can support them."
"…thinking through the entire lifecycle of your customer from the acquisition to renewal."
Having a Long-term View Is Crucial in Selling to Enterprise Customers
Because Everybody Works from Home, Videolicious Looks for Self-starters
" I do find that being able to tell the story and the vision is a good way to attract talent."
Other Startups That Matt Singer Admires – Companies That Make Using their Product Super Easy
What Matt Singer Has in Common with C.S. Lewis
"…most technology is pretty disruptive for your average employee. It's different than what they're used to doing. That's what you have to contend with as a startup, you assume that's a big jump, even if your product in the isolation is easy."
Matt Singer's Parting Thoughts – A Truly Valuable Observation
"It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
Sponsored by Peter Fasse, patent attorney at Fish & Richardson
Brad Feld and Dave Jilk bring the wisdom of modernity's most unsettling thinker to entrepreneurship. Like the ancient Stoics, Nietzsche has much to add to the thought of people disrupting existing assumptions today. Brief excerpts from Nietzsche are paired with essays from founders who grapple with the ideas in question.
Highlights:
Topics: co-founder, management, Techstars, software, returns, angel investing strategies
]]>Sponsored by Peter Fasse, patent attorney at Fish & Richardson
Brad Feld and Dave Jilk bring the wisdom of modernity's most unsettling thinker to entrepreneurship. Like the ancient Stoics, Nietzsche has much to add to the thought of people disrupting existing assumptions today. Brief excerpts from Nietzsche are paired with essays from founders who grapple with the ideas in question.
Highlights:
Topics: co-founder, management, Techstars, software, returns, angel investing strategies
]]>Bettina Hein is the founder of Pixability, one of the fastest-growing companies in Massachusetts. She was also co-founder of SVOX, a profitable Swiss startup sold to Nuance Communications for $125MM. This record may make her success seem easier to achieve than it was. Bettina Hein overcame numerous obstacles to justify the sobriquet "Fearless Founder". Learn from her as I did. She is an exemplar of resilience, grace under fire and plain common sense. She also has much to teach us about how a startup might best raise money. Whenever I ask angel investors about a remarkable pivot by a founder, there's a good chance Bettina's name will come up. Don't miss this charming and instructive conversation with a star founder.
Here are topics and quotes from the interview:
Topics: discovering entrepreneurship, pivot, venture funding, boards, co-founders, raising money
]]>Bettina Hein is the founder of Pixability, one of the fastest-growing companies in Massachusetts. She was also co-founder of SVOX, a profitable Swiss startup sold to Nuance Communications for $125MM. This record may make her success seem easier to achieve than it was. Bettina Hein overcame numerous obstacles to justify the sobriquet "Fearless Founder". Learn from her as I did. She is an exemplar of resilience, grace under fire and plain common sense. She also has much to teach us about how a startup might best raise money. Whenever I ask angel investors about a remarkable pivot by a founder, there's a good chance Bettina's name will come up. Don't miss this charming and instructive conversation with a star founder.
Here are topics and quotes from the interview:
Topics: discovering entrepreneurship, pivot, venture funding, boards, co-founders, raising money
]]>Repeat biotech founder Todd Zion on SmartCells (acquired by Merck for $500MM) and his current venture Akston Bio which is doing cool things with proteins. Todd has valuable insights on VC funding, angel investing and founding teams. This interview's a peach!
Topics: biotech, partnerships with strategics, venture capital, co-founders, angel investing strategies
]]>Repeat biotech founder Todd Zion on SmartCells (acquired by Merck for $500MM) and his current venture Akston Bio which is doing cool things with proteins. Todd has valuable insights on VC funding, angel investing and founding teams. This interview's a peach!
Topics: biotech, partnerships with strategics, venture capital, co-founders, angel investing strategies
]]>Sponsored by Peter fasse, patent attorney: https://www.fr.com/team/j-peter-fasse/
Angel investor Paul Silva has an idea about how to help startups after they exit accelerators. Launch413 is taking the friction out of getting and giving advice to founders. Great chat with a fun guest who is also a listener.
Highlights:
Sponsored by Peter fasse, patent attorney: https://www.fr.com/team/j-peter-fasse/
Angel investor Paul Silva has an idea about how to help startups after they exit accelerators. Launch413 is taking the friction out of getting and giving advice to founders. Great chat with a fun guest who is also a listener.
Highlights:
In 2013*, my brother-in-law Martin Aboitiz sat in my dining room and sketched out a business he planned to start. I thought "majnun" which is Arabic for crazy! How would this guy who had built software companies in Argentina found a startup to help Americans have better access to their healthcare data? But I underestimated his resourcefulness and titanic tenacity. Four years later, Healthjump is at cashflow break even and has 7.5 million patients in its data warehouse. I'm glad because I have some real money riding on Martin's company.
Listen to this lighthearted but informative interview. It was inspired, in part, by an excellent meal shared by the interlocutors the night before which included an outstanding paella (see photo) and some delightful wines. We talked healthcare, pivots, angel investing homeruns and flops and many other matters.
* (I said 2003 in the podcast by mistake)
Topics covered include:
Topics: founding story, pivot, product, angel investing strategies, returns
]]>In 2013*, my brother-in-law Martin Aboitiz sat in my dining room and sketched out a business he planned to start. I thought "majnun" which is Arabic for crazy! How would this guy who had built software companies in Argentina found a startup to help Americans have better access to their healthcare data? But I underestimated his resourcefulness and titanic tenacity. Four years later, Healthjump is at cashflow break even and has 7.5 million patients in its data warehouse. I'm glad because I have some real money riding on Martin's company.
Listen to this lighthearted but informative interview. It was inspired, in part, by an excellent meal shared by the interlocutors the night before which included an outstanding paella (see photo) and some delightful wines. We talked healthcare, pivots, angel investing homeruns and flops and many other matters.
* (I said 2003 in the podcast by mistake)
Topics covered include:
Topics: founding story, pivot, product, angel investing strategies, returns
]]>Purdue is going all out to be Innovation U. Professor Wayne Chen and I spoke of the various initiatives to that end including evaluating faculty on the patents they get and what startups they found.
Highlights:
Topics: university relations, raising money, discovering entrepreneurship, management, robotics / AI
]]>Purdue is going all out to be Innovation U. Professor Wayne Chen and I spoke of the various initiatives to that end including evaluating faculty on the patents they get and what startups they found.
Highlights:
Topics: university relations, raising money, discovering entrepreneurship, management, robotics / AI
]]>Federico Cismondi, co-founder of Sal's portfolio company doDoc, is back on the podcast to talk about the company's acquisition and the lessons he learned from the initial raise to the exit. A charming and instructive conversation with a thoughtful founder.
Topics: co-founders, management, exits, culture, Techstars, software
]]>Federico Cismondi, co-founder of Sal's portfolio company doDoc, is back on the podcast to talk about the company's acquisition and the lessons he learned from the initial raise to the exit. A charming and instructive conversation with a thoughtful founder.
Topics: co-founders, management, exits, culture, Techstars, software
]]>Join Sal's Syndicate: Click Here
Two brilliant scholarship kids became friends at Georgia Tech and went on to found a company that could change the world. This is the story of Matthew Stellmaker and Keith Hearon and of the good chemistry manifested in their friendship and in the creation of new polymers friendly to people and nature.
The idea came to Matthew when he was working at a large company that produces 50,000 tons of citrus waste per year. His friend Keith thought that he could do something interesting with the citrus rinds so Matthew got the company to fund the research into creating a use for this natural material.
These two young founders display remarkable self-knowledge and reveal discoveries in the art of founding companies that could help other founders, technical or not. It's a valuable conversation that includes the following topics:
Join Sal's Syndicate: Click Here
Two brilliant scholarship kids became friends at Georgia Tech and went on to found a company that could change the world. This is the story of Matthew Stellmaker and Keith Hearon and of the good chemistry manifested in their friendship and in the creation of new polymers friendly to people and nature.
The idea came to Matthew when he was working at a large company that produces 50,000 tons of citrus waste per year. His friend Keith thought that he could do something interesting with the citrus rinds so Matthew got the company to fund the research into creating a use for this natural material.
These two young founders display remarkable self-knowledge and reveal discoveries in the art of founding companies that could help other founders, technical or not. It's a valuable conversation that includes the following topics:
To Join Sal's Syndicate: Click Here
A terrible error in a lab led Tim Spong to start a company to improve the reliability and efficiency of pathology labs; big industry players are noticing. This interview was part of my due diligence on Tim's startup, VistaPath Bio. Subsequently, I invested in the company.
Highlights include:
To Join Sal's Syndicate: Click Here
A terrible error in a lab led Tim Spong to start a company to improve the reliability and efficiency of pathology labs; big industry players are noticing. This interview was part of my due diligence on Tim's startup, VistaPath Bio. Subsequently, I invested in the company.
Highlights include:
Sal's Syndicate List: Click to Join
Writing software never seemed like work to young Ham Lord. In high school and then in college, coding is what got him rolling with his other courses; he loved it. This passion, and the happy coincidence of being at the right place (Brown University) at the right time (early 1980s) led to a brilliantly productive career in computing and entrepreneurship.
Ham's early work in computer graphics would eventually lead to innovation in applying 3D imaging to the creation of new molecules. Later he helped build software with applications in medicine, oil & gas exploration and engineering analysis. He even did work that presaged today's drone technology.
After 16 years as a software engineer and entrepreneur, Ham cashed in his chips and began a hugely consequential career as one of Boston's super angel investors. He was the engine behind the relaunch of Launchpad, one of the country's most respected angel groups. In a frank and accessible interview, Ham discusses the workings of this group, talks about companies that excite him and addresses current trends in the ambit of angel investing.
Topics covered include:
Sal's Syndicate List: Click to Join
Writing software never seemed like work to young Ham Lord. In high school and then in college, coding is what got him rolling with his other courses; he loved it. This passion, and the happy coincidence of being at the right place (Brown University) at the right time (early 1980s) led to a brilliantly productive career in computing and entrepreneurship.
Ham's early work in computer graphics would eventually lead to innovation in applying 3D imaging to the creation of new molecules. Later he helped build software with applications in medicine, oil & gas exploration and engineering analysis. He even did work that presaged today's drone technology.
After 16 years as a software engineer and entrepreneur, Ham cashed in his chips and began a hugely consequential career as one of Boston's super angel investors. He was the engine behind the relaunch of Launchpad, one of the country's most respected angel groups. In a frank and accessible interview, Ham discusses the workings of this group, talks about companies that excite him and addresses current trends in the ambit of angel investing.
Topics covered include:
Sal's Syndicate List: Click to Join
4,000 people per year die in the US from uncontrolled epilepsy, many of them young. Vivek Ganesh and Jay Shah started Neurava to build sensors and algorithms to prevent such deaths. Here's my chat with these doctoral candidates from Purdue trying to bring their tech from the lab to the market.
Highlights:
Sal's Syndicate List: Click to Join
4,000 people per year die in the US from uncontrolled epilepsy, many of them young. Vivek Ganesh and Jay Shah started Neurava to build sensors and algorithms to prevent such deaths. Here's my chat with these doctoral candidates from Purdue trying to bring their tech from the lab to the market.
Highlights:
He grew up in working-class Chelsea, Massachusetts. At Chelsea High, he received preparation that would allow him to explore the academic delights offered by MIT's curriculum.
Four MIT degrees later he was on the faculty at MIT's Sloan School of Management studying the impact of NASA's research on the economy. From there it was a short hop to founding the study of tech startups. He also co-founded two successful companies, including Meditech. His course on entrepreneurship incubated Beijing's Sohu.com and Boston's HubSpot. Ed Roberts was an early investor in both.
The oft-cited result that companies founded by MIT alums generate revenues equivalent to the 10th largest economy in the world is one of the products of his scholarship. He also delves into his work on the optimal composition of founding teams.
Among the many topics covered in this bravura interview are:
He grew up in working-class Chelsea, Massachusetts. At Chelsea High, he received preparation that would allow him to explore the academic delights offered by MIT's curriculum.
Four MIT degrees later he was on the faculty at MIT's Sloan School of Management studying the impact of NASA's research on the economy. From there it was a short hop to founding the study of tech startups. He also co-founded two successful companies, including Meditech. His course on entrepreneurship incubated Beijing's Sohu.com and Boston's HubSpot. Ed Roberts was an early investor in both.
The oft-cited result that companies founded by MIT alums generate revenues equivalent to the 10th largest economy in the world is one of the products of his scholarship. He also delves into his work on the optimal composition of founding teams.
Among the many topics covered in this bravura interview are:
Italy, an advanced country of 60 million people, gets 20 times less startup money than Boston. My angel investing buddy Arrigo Bodda thinks there's ample room for growth. He is working with 42N, a consultancy focused on bringing Italian startups to the US. At the junction of design and cleantech, Italy has intriguing things to offer.
Highlights:
Italy, an advanced country of 60 million people, gets 20 times less startup money than Boston. My angel investing buddy Arrigo Bodda thinks there's ample room for growth. He is working with 42N, a consultancy focused on bringing Italian startups to the US. At the junction of design and cleantech, Italy has intriguing things to offer.
Highlights:
The firm, known for its expertise in web security and digital advertising, now sees promise in various applications of artificial intelligence starting with self-driving technology. Wan Li is deeply engaged in bringing on the next generation of winning investments at Fairhaven Capital. Despite a busy professional life, Wan Li Zhu has found time to advise startups and to co-found MIT Angels in Boston. I learned a ton from my conversation with this wise, yet unassuming early-stage VC and angel.
HERE'S A LIST OF THE TOPICS COVERED:
Studied with MIT Professor Andrew Lo – Used Natural Language Processing to Assess Market Sentiment
Why Wan Li Zhu Went to Microsoft – Three Years at MS – Shipped Three Versions of the Product
Wan Li Zhu Connects with Fairhaven Capital through HBS Resume Book
Fairhaven Capital Is Thesis-driven – Attentive to Market Trends that Could Create Large Opportunities
How the Fairhaven Capital Portfolio Is Doing
What Wan Li Zhu Looks for in a Startup Investment
Experienced Founders Can Actually Time Markets
TVision Came Via MIT Angels – Measuring Engagement of TV Viewers
AirFox – Enabling Wireless Carriers to Offer More Affordable Data Plans
MIT Angels Company PathAI's Deep Learning System Is Better at Detecting Tumor Cells than Human Pathologists
Latch – Enterprise-grade Keyless Access System for Apartment Buildings
The Investment Wan Li Zhu Regrets Not Making
Wise VC Wan Li Zhu Continues to Be Very Bullish on AI
The firm, known for its expertise in web security and digital advertising, now sees promise in various applications of artificial intelligence starting with self-driving technology. Wan Li is deeply engaged in bringing on the next generation of winning investments at Fairhaven Capital. Despite a busy professional life, Wan Li Zhu has found time to advise startups and to co-found MIT Angels in Boston. I learned a ton from my conversation with this wise, yet unassuming early-stage VC and angel.
HERE'S A LIST OF THE TOPICS COVERED:
Studied with MIT Professor Andrew Lo – Used Natural Language Processing to Assess Market Sentiment
Why Wan Li Zhu Went to Microsoft – Three Years at MS – Shipped Three Versions of the Product
Wan Li Zhu Connects with Fairhaven Capital through HBS Resume Book
Fairhaven Capital Is Thesis-driven – Attentive to Market Trends that Could Create Large Opportunities
How the Fairhaven Capital Portfolio Is Doing
What Wan Li Zhu Looks for in a Startup Investment
Experienced Founders Can Actually Time Markets
TVision Came Via MIT Angels – Measuring Engagement of TV Viewers
AirFox – Enabling Wireless Carriers to Offer More Affordable Data Plans
MIT Angels Company PathAI's Deep Learning System Is Better at Detecting Tumor Cells than Human Pathologists
Latch – Enterprise-grade Keyless Access System for Apartment Buildings
The Investment Wan Li Zhu Regrets Not Making
Wise VC Wan Li Zhu Continues to Be Very Bullish on AI
Austin-based super angel Hall Martin has an intriguing approach to investing in technology startups that can benefit investors and founders. He's also done quite a bit of equity crowdfunding. This interview was rich in lessons for me. I recommend you listen.
"…my conclusion after looking at it 20 years, it's not that I'm investing in the wrong deals. I'm investing with the wrong deal structure."
Highlights:
Austin-based super angel Hall Martin has an intriguing approach to investing in technology startups that can benefit investors and founders. He's also done quite a bit of equity crowdfunding. This interview was rich in lessons for me. I recommend you listen.
"…my conclusion after looking at it 20 years, it's not that I'm investing in the wrong deals. I'm investing with the wrong deal structure."
Highlights:
Tivan Amour, repeat founder, bristles with energy but is also capable of contemplation. He is a growth hacker familiar with the Socratic Dialogue. He is hugely ambitious yet generous with the less fortunate. It was great fun interviewing him and he taught me a bunch of things. Among these were the real value of Techstars to founders and some pointers on growing a customer base.
Here is a list of the topics covered:
Tivan Amour, repeat founder, bristles with energy but is also capable of contemplation. He is a growth hacker familiar with the Socratic Dialogue. He is hugely ambitious yet generous with the less fortunate. It was great fun interviewing him and he taught me a bunch of things. Among these were the real value of Techstars to founders and some pointers on growing a customer base.
Here is a list of the topics covered:
David Chang seems to have a lifetime of achievement behind him. Six startup exits, stints with TripAdvisor, PayPal and Goldman Sachs as well as close connections in the world of VCs give David a most informed perspective on startups. In this candid and instructive interview, David highlights the dos and don'ts of tech startups in clear and engaging prose. He provides a wealth of suggestions on how to approach markets and technologies.
He immigrated to America from Taiwan as a child and grew up on Long Island. David Chang distinguished himself in computer science as an undergrad at Cornell. Later on he attended Harvard Business School after seven years on Wall Street.
Topics covered in this interview include:
David Chang seems to have a lifetime of achievement behind him. Six startup exits, stints with TripAdvisor, PayPal and Goldman Sachs as well as close connections in the world of VCs give David a most informed perspective on startups. In this candid and instructive interview, David highlights the dos and don'ts of tech startups in clear and engaging prose. He provides a wealth of suggestions on how to approach markets and technologies.
He immigrated to America from Taiwan as a child and grew up on Long Island. David Chang distinguished himself in computer science as an undergrad at Cornell. Later on he attended Harvard Business School after seven years on Wall Street.
Topics covered in this interview include:
A successful founder who has become a respected angel investor in Boston, Raza Shaikh is a pleasure to speak to and to learn from. Raza also has a podcast called On Boards which is great for people who are on boards or would like to be.
Highlights:
A successful founder who has become a respected angel investor in Boston, Raza Shaikh is a pleasure to speak to and to learn from. Raza also has a podcast called On Boards which is great for people who are on boards or would like to be.
Highlights:
Jay Batson is an angel investor's angel investor. He's the kind of guy who people like me, and lots of other people, go to ask really tough questions about angel investing. And, he always has really thoughtful ideas. Whenever I'm puzzling over something, I reach out to Jay. If I can get 10 minutes of his time it's really precious. I really recommend this relaunch of my first interview with Jay Batson.
It is rare to hear reports from the frontiers of technology expressed so lucidly and accessibly by a real insider. This gem of an interview rewards the listener with Jay's sensible and eloquently expressed explanations of the pitfalls of building products and companies. Jay recounts how angel investing taught him things he wishes he had known as a founder. He closes with wise words to recent college grads thinking of founding a startup.
Jay Batson started out as a land man helping oil and gas explorers secure drilling rights. Computerizing part of his work led to his first startup. This made him realize that he loved technology. He would eventually embody this passion for tech in the founding of two venture-backed companies which brought significant innovation by way of the open source movement.
Here are some of the topics included in this podcast:
Topics: software, product, management, exits, boards, discovering entrepreneurship, founding story
]]>Jay Batson is an angel investor's angel investor. He's the kind of guy who people like me, and lots of other people, go to ask really tough questions about angel investing. And, he always has really thoughtful ideas. Whenever I'm puzzling over something, I reach out to Jay. If I can get 10 minutes of his time it's really precious. I really recommend this relaunch of my first interview with Jay Batson.
It is rare to hear reports from the frontiers of technology expressed so lucidly and accessibly by a real insider. This gem of an interview rewards the listener with Jay's sensible and eloquently expressed explanations of the pitfalls of building products and companies. Jay recounts how angel investing taught him things he wishes he had known as a founder. He closes with wise words to recent college grads thinking of founding a startup.
Jay Batson started out as a land man helping oil and gas explorers secure drilling rights. Computerizing part of his work led to his first startup. This made him realize that he loved technology. He would eventually embody this passion for tech in the founding of two venture-backed companies which brought significant innovation by way of the open source movement.
Here are some of the topics included in this podcast:
Topics: software, product, management, exits, boards, discovering entrepreneurship, founding story
]]>Joe Falcão is the CFO of Boston-based unicorn Thrasio. Learn the secrets of this uniquely successful startup. Retrace my friend's exciting journey which started in Kenya and led to Boston via Brazil and other interesting places.
Highlights:
Joe Falcão is the CFO of Boston-based unicorn Thrasio. Learn the secrets of this uniquely successful startup. Retrace my friend's exciting journey which started in Kenya and led to Boston via Brazil and other interesting places.
Highlights:
José Falcão, Chefe de Finanças da Thrasio explica o que motiva esta companhia que adquire comércios na Amazon.com. Falamos também sobre a jornada de sua vida pela Africa, Asia e o Brasil.
]]>José Falcão, Chefe de Finanças da Thrasio explica o que motiva esta companhia que adquire comércios na Amazon.com. Falamos também sobre a jornada de sua vida pela Africa, Asia e o Brasil.
]]>Growing up in Northern Italy, Arrigo Bodda dreamed of becoming an architect. He chose instead to study law, a handy pre-requisite for a career in human resources in a country where staffing involves a lot of legal work. His corporate career neatly coincided with the emergence of the European Union, a phenomenon that deeply influenced his work and life. After much success in the executive suites of global enterprises, Arrigo now has the opportunity to pursue his passion for design and architecture as an angel investor with Walnut Venture Associates and as an entrepreneur.
In this lighthearted interview, Arrigo shares some of the valuable wisdom gained in navigating large multinational enterprises across cultures and across disciplines. He offers valuable suggestions for founders of startups seeking to do business with multinational companies. He also provides an appealing model of finding the right balance between following your passions and making concessions to reality.
Topics discussed in this podcast include:
Growing up in Northern Italy, Arrigo Bodda dreamed of becoming an architect. He chose instead to study law, a handy pre-requisite for a career in human resources in a country where staffing involves a lot of legal work. His corporate career neatly coincided with the emergence of the European Union, a phenomenon that deeply influenced his work and life. After much success in the executive suites of global enterprises, Arrigo now has the opportunity to pursue his passion for design and architecture as an angel investor with Walnut Venture Associates and as an entrepreneur.
In this lighthearted interview, Arrigo shares some of the valuable wisdom gained in navigating large multinational enterprises across cultures and across disciplines. He offers valuable suggestions for founders of startups seeking to do business with multinational companies. He also provides an appealing model of finding the right balance between following your passions and making concessions to reality.
Topics discussed in this podcast include:
Dropping prices for solar panels sank many American clean tech companies. PIKA Energy, however, was able to benefit from the trend by innovating. Generac acquired them in 2019 because of their uniquely efficient home energy storage system. Bill Hetzel, former COO, tells the compelling story of this Maine Angel (and Sal)-backed success and more.
Highlights:
Dropping prices for solar panels sank many American clean tech companies. PIKA Energy, however, was able to benefit from the trend by innovating. Generac acquired them in 2019 because of their uniquely efficient home energy storage system. Bill Hetzel, former COO, tells the compelling story of this Maine Angel (and Sal)-backed success and more.
Highlights:
Peter Fasse comes from a family of patent attorneys. He is a highly respected partner at Fish & Richardson, the storied Boston-based (now global) firm that represented Alexander Graham Bell, Thomas Edison and the Wright Brothers. Peter's work continues that tradition by representing some of the leading technological innovators of today. Peter also invests as an angel in technology companies. In this practical and accessible conversation he revealed valuable insights and resources for founders and investors in technology companies. He also relayed some interesting and instructive stories of intellectual property success and calamity.
Among the topics covered were:
Peter Fasse comes from a family of patent attorneys. He is a highly respected partner at Fish & Richardson, the storied Boston-based (now global) firm that represented Alexander Graham Bell, Thomas Edison and the Wright Brothers. Peter's work continues that tradition by representing some of the leading technological innovators of today. Peter also invests as an angel in technology companies. In this practical and accessible conversation he revealed valuable insights and resources for founders and investors in technology companies. He also relayed some interesting and instructive stories of intellectual property success and calamity.
Among the topics covered were:
What if an injection could cure your diabetes? Meng Deng, PhD and Karen Wurster were on the podcast to talk about Adipo Therapeutics' ambitious plan to remake the metabolism of diabetic people. Informative and accessible.
Highlights include:
What if an injection could cure your diabetes? Meng Deng, PhD and Karen Wurster were on the podcast to talk about Adipo Therapeutics' ambitious plan to remake the metabolism of diabetic people. Informative and accessible.
Highlights include:
Frank Ferguson had a knack for building companies. He headed Bose at a time of rapid growth and built Curriculum Associates into a great success. Frank Ferguson's angel investing was unusual in that he invested in just a few startups but lavished support on those few. The results were great. Frank was active well into his nineties but passed away recently; this relaunch of an interview I recorded with him is a memorial for his life of achievement and passion. It's loaded with lessons for angels and founders. Rest in peace, Frank Ferguson.
My favorite observation from the conversation with Frank Fergusson neatly encapsulates his recipe for success as an investor:
"You can get sucked in and fall in love with a lot of things, but then you have to ask, "Are these the guys who can actually make it happen?" What are the odds that these guys can keep together, not fight, get over it, be successful, run things correctly, not fall in love with their own things so much that they lose track of the financial realities of the business? Can they sell?"
Click Here to read the transcript of the interview.
TOPICS DISCUSSED INCLUDE:
]]>
Frank Ferguson had a knack for building companies. He headed Bose at a time of rapid growth and built Curriculum Associates into a great success. Frank Ferguson's angel investing was unusual in that he invested in just a few startups but lavished support on those few. The results were great. Frank was active well into his nineties but passed away recently; this relaunch of an interview I recorded with him is a memorial for his life of achievement and passion. It's loaded with lessons for angels and founders. Rest in peace, Frank Ferguson.
My favorite observation from the conversation with Frank Fergusson neatly encapsulates his recipe for success as an investor:
"You can get sucked in and fall in love with a lot of things, but then you have to ask, "Are these the guys who can actually make it happen?" What are the odds that these guys can keep together, not fight, get over it, be successful, run things correctly, not fall in love with their own things so much that they lose track of the financial realities of the business? Can they sell?"
Click Here to read the transcript of the interview.
TOPICS DISCUSSED INCLUDE:
]]>
The hardships faced by parents of babies with developmental problems led Matt Breen and his co-founder / fiancée, Erica Costa, both pediatric occupational therapists, to start Rahoo Baby to make it easier for parents to support their baby's development.Their first product is now at buybuy BABY and Target. A fun chat with a down-to earth founder.
Highlights:
The hardships faced by parents of babies with developmental problems led Matt Breen and his co-founder / fiancée, Erica Costa, both pediatric occupational therapists, to start Rahoo Baby to make it easier for parents to support their baby's development.Their first product is now at buybuy BABY and Target. A fun chat with a down-to earth founder.
Highlights:
Founder and revenue consultant Nick Zeckets and I discussed his first startup and what he learned from it. Then we talked about the best ways for startups to build revenues. Instructive and inspiring.
Highlights include:
Founder and revenue consultant Nick Zeckets and I discussed his first startup and what he learned from it. Then we talked about the best ways for startups to build revenues. Instructive and inspiring.
Highlights include:
Artist K. Woodman-Maynard discusses her gorgeous graphic novel interpretation of The Great Gatsby, the business of being a graphic artist and other engrossing matters. A delightfully different interview with a charming guest.
Highlights include:
Artist K. Woodman-Maynard discusses her gorgeous graphic novel interpretation of The Great Gatsby, the business of being a graphic artist and other engrossing matters. A delightfully different interview with a charming guest.
Highlights include:
Kristen Overly works as management consultant and is a leader at MIT Life Science Angels. Kristen and I discussed various aspects of the funding of life science startups. She, like me, is intrigued by the opportunities in what Jeff Behrens called the scrappy biotechs in his doctoral thesis. Highlights include:
Kristen Overly works as management consultant and is a leader at MIT Life Science Angels. Kristen and I discussed various aspects of the funding of life science startups. She, like me, is intrigued by the opportunities in what Jeff Behrens called the scrappy biotechs in his doctoral thesis. Highlights include:
RockStep Solutions improves efficiency by 70% according to one client. This is why the startup is getting word of mouth traffic from clients running in vivo drug trials. Founders Chuck Donnelly and Julie Morrison tell their story and share valuable wisdom about this intersection of software and bio.
Highlights include:
RockStep Solutions improves efficiency by 70% according to one client. This is why the startup is getting word of mouth traffic from clients running in vivo drug trials. Founders Chuck Donnelly and Julie Morrison tell their story and share valuable wisdom about this intersection of software and bio.
Highlights include:
Launchpad, Boston's leading angel group, has published a polished collection of stories that illustrate the success and failure of their portfolio companies over two decades. It is titled "The Entrepreneur's Journey". Listen to my interview of authors Ham Lord, Christopher Mirabile and Joe Mandato to learn more about this valuable resource for angels and founders.
Highlights from the interview:
Launchpad, Boston's leading angel group, has published a polished collection of stories that illustrate the success and failure of their portfolio companies over two decades. It is titled "The Entrepreneur's Journey". Listen to my interview of authors Ham Lord, Christopher Mirabile and Joe Mandato to learn more about this valuable resource for angels and founders.
Highlights from the interview:
The collaboration of Ham Lord and Christopher Mirabile, two of Boston's most consequential super angels, is widely admired. Its most visible fruit is the success of Launchpad Venture Group, which they manage together. In the relaunch of this revealing interview, they let us in on how this winning collaboration came to be and what keeps it productive as it approaches the end of its first decade.
Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Click here to read the full episode transcript.
TOPICS COVERED INCLUDE:
The collaboration of Ham Lord and Christopher Mirabile, two of Boston's most consequential super angels, is widely admired. Its most visible fruit is the success of Launchpad Venture Group, which they manage together. In the relaunch of this revealing interview, they let us in on how this winning collaboration came to be and what keeps it productive as it approaches the end of its first decade.
Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Click here to read the full episode transcript.
TOPICS COVERED INCLUDE:
Repeat biotech founder and angel investor Patrick Rivelli talks about his career and about how to approach the daunting challenge of investing in biotech as an angel.
Family considerations drove several of Patrick Rivelli's career choices but did not prevent him from having brilliant triumphs. Success as a consultant was followed by success as an executive. This led him to found his first company and to fund another startup. The most eloquent evidence of his achievements was exiting two biotech startups in eleven years. If you are a seasoned biotech investor, I'm sure that grabbed your attention. Patrick was also instrumental in founding MIT Angels of the Bay Area and now leads the life science track at MIT Angels in Boston.
I learned a lot from this fun chat with Patrick. I hope it will be entertaining and instructive for you as well.
Note: When Sal talked about biotech booming circa 1996 he actually meant to say the internet. Biotech was still a backwater then.
Repeat biotech founder and angel investor Patrick Rivelli talks about his career and about how to approach the daunting challenge of investing in biotech as an angel.
Family considerations drove several of Patrick Rivelli's career choices but did not prevent him from having brilliant triumphs. Success as a consultant was followed by success as an executive. This led him to found his first company and to fund another startup. The most eloquent evidence of his achievements was exiting two biotech startups in eleven years. If you are a seasoned biotech investor, I'm sure that grabbed your attention. Patrick was also instrumental in founding MIT Angels of the Bay Area and now leads the life science track at MIT Angels in Boston.
I learned a lot from this fun chat with Patrick. I hope it will be entertaining and instructive for you as well.
Note: When Sal talked about biotech booming circa 1996 he actually meant to say the internet. Biotech was still a backwater then.
TOPICS DISCUSSED INCLUDE:]]>
Expert Dojo is the international accelerator based in Southern California. Founder Brian Mahon and team look for great founders with profitable businesses that can grow. Brian's a delightfully articulate guest. Don't miss this outstanding interview.
Highlights:
Expert Dojo is the international accelerator based in Southern California. Founder Brian Mahon and team look for great founders with profitable businesses that can grow. Brian's a delightfully articulate guest. Don't miss this outstanding interview.
Highlights:
Ed Belove is a very active angel investor. He's a successful founder in software and hardware. Just a very thoughtful person. Very, very smart, very observant, very committed. Founders would be very lucky to have Ed Belove in their corner. I really enjoyed this interview, which I recorded in the first season of the podcast. And it is a very, very meaty interview. Full of interesting stories. For example, helping build Lotus with Mitch Kapor and all sorts of other things. So, it's a little bit of history of the software industry. A lot of wisdom about building a company and an introduction to just a tremendous, tremendous angel investor and person. I highly recommend the conversation with Ed Belove.
As an undergrad at Harvard, Ed Belove hung out with people at the campus radio station that liked to play with computers. This eventually led to a brilliant career that included building software products with the visionary Mitch Kapor at Lotus Development. Ed co-founded a company that greatly expanded the Apple II's ability to communicate. The company would eventually pivot to supplying the hardware for early Internet services such as CompuServe and AOL. This successful trajectory allowed Ed to dedicate his time to building early-stage companies and doing philanthropic work. As a much sought-after angel investor, Ed puts his capital and energy to work on behalf of promising startups. If you are building a software startup, you would be well served to listen to the thoughts Ed expresses in this podcast.
HERE ARE SOME OF THE TOPICS COVERED IN OUR CONVERSATION:
Ed Belove is a very active angel investor. He's a successful founder in software and hardware. Just a very thoughtful person. Very, very smart, very observant, very committed. Founders would be very lucky to have Ed Belove in their corner. I really enjoyed this interview, which I recorded in the first season of the podcast. And it is a very, very meaty interview. Full of interesting stories. For example, helping build Lotus with Mitch Kapor and all sorts of other things. So, it's a little bit of history of the software industry. A lot of wisdom about building a company and an introduction to just a tremendous, tremendous angel investor and person. I highly recommend the conversation with Ed Belove.
As an undergrad at Harvard, Ed Belove hung out with people at the campus radio station that liked to play with computers. This eventually led to a brilliant career that included building software products with the visionary Mitch Kapor at Lotus Development. Ed co-founded a company that greatly expanded the Apple II's ability to communicate. The company would eventually pivot to supplying the hardware for early Internet services such as CompuServe and AOL. This successful trajectory allowed Ed to dedicate his time to building early-stage companies and doing philanthropic work. As a much sought-after angel investor, Ed puts his capital and energy to work on behalf of promising startups. If you are building a software startup, you would be well served to listen to the thoughts Ed expresses in this podcast.
HERE ARE SOME OF THE TOPICS COVERED IN OUR CONVERSATION:
SQZ's successful IPO validates the vision laid out by Armon Sharei, PhD in this interview recorded two years ago. In accessible language, this genius founder explains the approach that has big strategic players excited. SQZ is the model I have in mind when I invest in biotech companies. Find out why.
Armon Sharei wants to train our immune system to fight cancer. We hear a lot of claims like this, however when a mega-pharmaceutical company like Roche inks a $500 million deal to work on it, we pay attention. At age 29, Armon convinced not only Roche but gimlet-eyed VCs to back him. How did he do this? How did he go from a boy living in Iran to being one of the stars of MIT's storied Langer Lab?
Part of Armon's secret is the ability to explain thickly complex ideas in accessible language that does not over simplify. He is that rarest of creatures, a scientist of the first rank who speaks lucidly and acts practically. I am grateful that Armon took time out from curing cancer to share his experiences with us in this inspiring interview.
If you are a scientist thinking of founding a company or an investor thinking of investing in a biotech startup you could learn a lot by listening to this interview with Armon Sharei and then going to AngelInvestBoston.com searching under the biotech topic.
Among the topics covered are:
SQZ's successful IPO validates the vision laid out by Armon Sharei, PhD in this interview recorded two years ago. In accessible language, this genius founder explains the approach that has big strategic players excited. SQZ is the model I have in mind when I invest in biotech companies. Find out why.
Armon Sharei wants to train our immune system to fight cancer. We hear a lot of claims like this, however when a mega-pharmaceutical company like Roche inks a $500 million deal to work on it, we pay attention. At age 29, Armon convinced not only Roche but gimlet-eyed VCs to back him. How did he do this? How did he go from a boy living in Iran to being one of the stars of MIT's storied Langer Lab?
Part of Armon's secret is the ability to explain thickly complex ideas in accessible language that does not over simplify. He is that rarest of creatures, a scientist of the first rank who speaks lucidly and acts practically. I am grateful that Armon took time out from curing cancer to share his experiences with us in this inspiring interview.
If you are a scientist thinking of founding a company or an investor thinking of investing in a biotech startup you could learn a lot by listening to this interview with Armon Sharei and then going to AngelInvestBoston.com searching under the biotech topic.
Among the topics covered are:
Senan Ebrahim grew up in Silicon Valley but he experienced the Syrian refugee crisis via his grandmother. When he became interested in the problem of refugee health his initial solution was laughably unsuited to real life. Contact with health care workers serving the refugee population allowed Senan to zero in on a high-impact solution that is now serving 50,000 displaced people and is set to grow.
]]>Senan Ebrahim grew up in Silicon Valley but he experienced the Syrian refugee crisis via his grandmother. When he became interested in the problem of refugee health his initial solution was laughably unsuited to real life. Contact with health care workers serving the refugee population allowed Senan to zero in on a high-impact solution that is now serving 50,000 displaced people and is set to grow.
]]>Purdue wants to be Startup U. They are already the #3 university in the US for producing startups, right behind MIT and Columbia. One of my favorite companies, Savran Technologies, came out of Purdue. I spoke with Wade Lange of Purdue Foundry, responsible for promoting startups at Purdue. Several interesting Purdue startups were discussed.
Highlights:
]]>
Purdue wants to be Startup U. They are already the #3 university in the US for producing startups, right behind MIT and Columbia. One of my favorite companies, Savran Technologies, came out of Purdue. I spoke with Wade Lange of Purdue Foundry, responsible for promoting startups at Purdue. Several interesting Purdue startups were discussed.
Highlights:
]]>
Jeff Behren's doctoral dissertation suggests that life science startups are not funded the way we all think. Listen to our discussion of his work and learn why he believes we have to revise what is taught to founders about raising money.
Highlights:
Jeff Behren's doctoral dissertation suggests that life science startups are not funded the way we all think. Listen to our discussion of his work and learn why he believes we have to revise what is taught to founders about raising money.
Highlights:
Mortgage origination is a massive business deeply stuck in the past. Proof: in 2020 it still takes an average of 45 days to approve a mortgage. Israeli founder Eilon Shalev and his buddies from MIT Sloan School aim to change all that with their startup Elphi.
Highlights:
Mortgage origination is a massive business deeply stuck in the past. Proof: in 2020 it still takes an average of 45 days to approve a mortgage. Israeli founder Eilon Shalev and his buddies from MIT Sloan School aim to change all that with their startup Elphi.
Highlights:
Tech VC Matt Fates of Ascent Venture Partners talks about his portfolio and his investing career and ponders becoming more active as an angel investor. A frank and informative conversation with a delightful guest.
Highlights:
Tech VC Matt Fates of Ascent Venture Partners talks about his portfolio and his investing career and ponders becoming more active as an angel investor. A frank and informative conversation with a delightful guest.
Highlights:
Unlike software startups that can scale with minimal resources, biotech startups need frequently to rely on collaborations with big strategic players to get to scale. This is an interview with one of the top attorneys in arranging such deals, David Glazer of Morgan Lewis. I learned much from David; I hope you will too.
Highlights:
Unlike software startups that can scale with minimal resources, biotech startups need frequently to rely on collaborations with big strategic players to get to scale. This is an interview with one of the top attorneys in arranging such deals, David Glazer of Morgan Lewis. I learned much from David; I hope you will too.
Highlights:
As a venture capitalist Fred Bamber helped build such successful companies as Interleaf, Q1 Labs and Volt Server. Now working as an angel investor Fred is invested such exciting companies as SQZ Biotech, Pixability, ViralGains and Streamroot (exited). In his self-effacing and modest way, Fred reveals deep wisdom gained from 75 investments in his career as a VC.
Topics include:
As a venture capitalist Fred Bamber helped build such successful companies as Interleaf, Q1 Labs and Volt Server. Now working as an angel investor Fred is invested such exciting companies as SQZ Biotech, Pixability, ViralGains and Streamroot (exited). In his self-effacing and modest way, Fred reveals deep wisdom gained from 75 investments in his career as a VC.
Topics include:
Young founder Derek Canton was obsessed with making restaurant payments frictionless. COVID scrambled his product plans but opened up a huge opportunity to provide contactless payment. Throughout lockdown Paerpay has gotten traction for its text-driven payment system which is a perfect fit for the times.
Highlights:
Young founder Derek Canton was obsessed with making restaurant payments frictionless. COVID scrambled his product plans but opened up a huge opportunity to provide contactless payment. Throughout lockdown Paerpay has gotten traction for its text-driven payment system which is a perfect fit for the times.
Highlights:
Ben Littauer travelled an unlikely path from philosophy to communications technology. He brings to life the exciting turns in his careers as founder and angel investor. In his light-hearted style, Ben provides a thoughtful tour of Boston's angel scene in this episode that ranges over many topics including equity crowdfunding. In particular, he explains what leads founders to make the worst fund-raising mistake of all. The philosopher's clarity of thought and the engineer's practicality are in evidence.
]]>Ben Littauer travelled an unlikely path from philosophy to communications technology. He brings to life the exciting turns in his careers as founder and angel investor. In his light-hearted style, Ben provides a thoughtful tour of Boston's angel scene in this episode that ranges over many topics including equity crowdfunding. In particular, he explains what leads founders to make the worst fund-raising mistake of all. The philosopher's clarity of thought and the engineer's practicality are in evidence.
]]>The sense of purpose and focus that led Klaudyne Hong to do her PhD at MIT in two years helped her turn a chance comment during a fly-fishing trip into a groundbreaking startup. Peach IntelliHealth is building AI for acute medical care. Her project was seeded by the Government of Singapore where she found great help in building her data set. She's now seeking FDA approval.
Highlights include:
The sense of purpose and focus that led Klaudyne Hong to do her PhD at MIT in two years helped her turn a chance comment during a fly-fishing trip into a groundbreaking startup. Peach IntelliHealth is building AI for acute medical care. Her project was seeded by the Government of Singapore where she found great help in building her data set. She's now seeking FDA approval.
Highlights include:
Vets have known for a century that injecting extract from fetal tissue helps wounds heal faster However, the procedures required were arduous. Hilltop Bio is taking the hassles out of this time-tested therapy and creating a new revenue stream for clinics. Amanda Drobnis, founder and Jess McLear, board member update us on the company's progress.
Interview highlights include:
Vets have known for a century that injecting extract from fetal tissue helps wounds heal faster However, the procedures required were arduous. Hilltop Bio is taking the hassles out of this time-tested therapy and creating a new revenue stream for clinics. Amanda Drobnis, founder and Jess McLear, board member update us on the company's progress.
Interview highlights include:
Ralph Wagner recalls his journey of self-discovery that led from failure in engineering to incandescent success in marketing and sales. The man who could not do calculus or write code excelled at identifying and exploiting opportunities created by computer technology. In this interview one sees that Ralph's captivating personality is firmly ballasted by good sense and common decency. It is made evident how his interest in people was vital to the success of his many ventures.
]]>Ralph Wagner recalls his journey of self-discovery that led from failure in engineering to incandescent success in marketing and sales. The man who could not do calculus or write code excelled at identifying and exploiting opportunities created by computer technology. In this interview one sees that Ralph's captivating personality is firmly ballasted by good sense and common decency. It is made evident how his interest in people was vital to the success of his many ventures.
]]>Joe Selvaggi, entrepreneur and podcaster straddles the worlds of business and policy in his podcast HubWonk, one of two podcasts from Boston's Pioneer Institute. Joe and I talked about compelling interviews of founders and how they relate to the work of the free-market think tank. Fun & Instructive.
Highlights include:
Joe Selvaggi, entrepreneur and podcaster straddles the worlds of business and policy in his podcast HubWonk, one of two podcasts from Boston's Pioneer Institute. Joe and I talked about compelling interviews of founders and how they relate to the work of the free-market think tank. Fun & Instructive.
Highlights include:
Super angel investor Michael Mark tells fascinating stories that take us from the precocious founding of his first startup straight out of MIT to his being a highly-prized investor in hundreds of startups today. The narratives are interwoven with valuable lessons on how tech startups are built in Boston's vibrant entrepreneurial ecosystem. They include entertaining observations of subjects ranging from comedians to co-founders. Some of the most interesting pivots (radical changes of business plan) are elucidated. Michael's dry wit and unassuming manner make his deep wisdom accessible to all of us.
If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston. Do take the time to review us.
Sign up at https://www.AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics we touched on:
Super angel investor Michael Mark tells fascinating stories that take us from the precocious founding of his first startup straight out of MIT to his being a highly-prized investor in hundreds of startups today. The narratives are interwoven with valuable lessons on how tech startups are built in Boston's vibrant entrepreneurial ecosystem. They include entertaining observations of subjects ranging from comedians to co-founders. Some of the most interesting pivots (radical changes of business plan) are elucidated. Michael's dry wit and unassuming manner make his deep wisdom accessible to all of us.
If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston. Do take the time to review us.
Sign up at https://www.AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics we touched on:
Curious Reactor, the AI built by founder Jenny Ro, PhD, helps participants at life science conferences figure out who to meet. It's only the first step in a promising road map. Loved the chat with this compelling founder.
]]>Curious Reactor, the AI built by founder Jenny Ro, PhD, helps participants at life science conferences figure out who to meet. It's only the first step in a promising road map. Loved the chat with this compelling founder.
]]>Founder Gillian Isabelle, Ph.D. returns to give us an update on how her startup Enlivity is navigating the COVID crisis.
Here is Gillian's origin story: Gillian Isabelle's Full Interview
]]>Founder Gillian Isabelle, Ph.D. returns to give us an update on how her startup Enlivity is navigating the COVID crisis.
Here is Gillian's origin story: Gillian Isabelle's Full Interview
]]>An MBA and an architect who got together as co-founders at MIT to build software that helps designers make decisions based on numbers and science. Spatiometrics is now helping to make offices COVID-resistant.
During the interview we discussed the company's founding story, its workflow and how they are helping with back to work planning.
]]>An MBA and an architect who got together as co-founders at MIT to build software that helps designers make decisions based on numbers and science. Spatiometrics is now helping to make offices COVID-resistant.
During the interview we discussed the company's founding story, its workflow and how they are helping with back to work planning.
]]>To celebrate our 100th episode, Raul Rosa and I curated snippets from various interviews that illustrate particularly valuable lessons in entrepreneurship. Below you will find a list of the full episodes next to the name of the guest cited.
Starting at the launch of the 100th episode it will also be possible to search for content on https://angelinvestboston.com based on a list of topics, some of which I list below.
Focus:
Selling
Raising Money
Returns
Boards
Co-Founders
Product
Discovering Entrepreneurship
To celebrate our 100th episode, Raul Rosa and I curated snippets from various interviews that illustrate particularly valuable lessons in entrepreneurship. Below you will find a list of the full episodes next to the name of the guest cited.
Starting at the launch of the 100th episode it will also be possible to search for content on https://angelinvestboston.com based on a list of topics, some of which I list below.
Focus:
Selling
Raising Money
Returns
Boards
Co-Founders
Product
Discovering Entrepreneurship
Brazilian patients struggle to access specialized medical care. Precavida, which just graduated from Techstars Boston, is addressing this problem. Here is my interview with founder Lais Fonseca.
]]>Brazilian patients struggle to access specialized medical care. Precavida, which just graduated from Techstars Boston, is addressing this problem. Here is my interview with founder Lais Fonseca.
]]>Events platform Host Events confronts going virtual with COVID-19. I also talked to Brian Megill about his entrepreneurial journey.
]]>Events platform Host Events confronts going virtual with COVID-19. I also talked to Brian Megill about his entrepreneurial journey.
]]>Trying to create a bike startup, repeat founder Tivan Amour builds a texting tool that quickly outgrows the original business and is then launched as an independent company. Listen to the founding story of Tone (tonemessaging.com) and how it's allowing brands to speak directly to customers.
A great chat with one of my favorite founders.
Highlights include:
Trying to create a bike startup, repeat founder Tivan Amour builds a texting tool that quickly outgrows the original business and is then launched as an independent company. Listen to the founding story of Tone (tonemessaging.com) and how it's allowing brands to speak directly to customers.
A great chat with one of my favorite founders.
Highlights include:
Born in a Brazilian slum, Artur Souza has founded a promising startup in Boston. His experience with the complexity of adopting his dog led to the creation of Adopets, a platform to facilitate pet adoption. The surge in pet adoption caused by COVID-19 has opened up opportunities for this inspiring founder.
]]>Born in a Brazilian slum, Artur Souza has founded a promising startup in Boston. His experience with the complexity of adopting his dog led to the creation of Adopets, a platform to facilitate pet adoption. The surge in pet adoption caused by COVID-19 has opened up opportunities for this inspiring founder.
]]>Meenta is the platform for sharing the use of high-end scientific equipment. Its founders, Gabor Bethlendy and Stephan Smith, are using resources they have built to help companies test employees for COVID.
You can learn more about Meenta in the following interviews:
Here is my interview of Gabor Bethlendy: https://www.angelinvestboston.com/ep-65/gabor-bethlendy-meenta
Here is my interview of Stephan Smith: https://www.angelinvestboston.com/ep-90-stephan-smith-meenta
]]>Meenta is the platform for sharing the use of high-end scientific equipment. Its founders, Gabor Bethlendy and Stephan Smith, are using resources they have built to help companies test employees for COVID.
You can learn more about Meenta in the following interviews:
Here is my interview of Gabor Bethlendy: https://www.angelinvestboston.com/ep-65/gabor-bethlendy-meenta
Here is my interview of Stephan Smith: https://www.angelinvestboston.com/ep-90-stephan-smith-meenta
]]>In VentureFizz, Keith Cline has created a place where great tech companies and great tech talent meet. Check it out at: https://venturefizz.com/
I had a wide-ranging interview with this most affable and informed guest, here are some highlights:
]]>
In VentureFizz, Keith Cline has created a place where great tech companies and great tech talent meet. Check it out at: https://venturefizz.com/
I had a wide-ranging interview with this most affable and informed guest, here are some highlights:
]]>
An alum of Techstars and Shark Tank backed by Mark Cuban and Sara Blakely, Alice's Table was a promising startup. Then, the virus struck. For an events company this could have been fatal but Alice Lewis pivoted in an intriguing direction that is already showing strong traction. Hear this great story told by an inspiring founder.
Here's Alice's full-length interview: From Techstars to Shark Tank
]]>An alum of Techstars and Shark Tank backed by Mark Cuban and Sara Blakely, Alice's Table was a promising startup. Then, the virus struck. For an events company this could have been fatal but Alice Lewis pivoted in an intriguing direction that is already showing strong traction. Hear this great story told by an inspiring founder.
Here's Alice's full-length interview: From Techstars to Shark Tank
]]>Techstars alum COBU has been getting traction at leading apartment buildings for its ability to build community and thus lower tenant turnover. During the lockdown, it has been a social lifeline for apartment dwellers. Founder Ben Pleat returns to the podcast to tell the story.
Listen to the founding story of COBU here: COBU: Community in Rentals
]]>Techstars alum COBU has been getting traction at leading apartment buildings for its ability to build community and thus lower tenant turnover. During the lockdown, it has been a social lifeline for apartment dwellers. Founder Ben Pleat returns to the podcast to tell the story.
Listen to the founding story of COBU here: COBU: Community in Rentals
]]>Highlights include:
Highlights include:
"So, there's been a hole in the market for that kind of company that's going to be a great company that's not venture-scale."
Repeat founder and super angel Jay Batson talks about his new passion: Revenue-Based Finance. He likes the possibility it opens up for startups that are great but not quite venture-scale. Learn what RBF does for founders and investors.
Highlights include:
]]>
"So, there's been a hole in the market for that kind of company that's going to be a great company that's not venture-scale."
Repeat founder and super angel Jay Batson talks about his new passion: Revenue-Based Finance. He likes the possibility it opens up for startups that are great but not quite venture-scale. Learn what RBF does for founders and investors.
Highlights include:
]]>
If you've used an Amazon Kindle you've used tech pioneered by Russ Wilcox and co-founders at E Ink. Russ is now a VC who remembers well the trials of being a founder and is a deep well useful knowledge about building startups. I learned a lot.
Highlights include:
If you've used an Amazon Kindle you've used tech pioneered by Russ Wilcox and co-founders at E Ink. Russ is now a VC who remembers well the trials of being a founder and is a deep well useful knowledge about building startups. I learned a lot.
Highlights include:
Joe Caruso is treasured by tech founders for his kind support and sage advice. He's back to tell us how his startups are dealing with the COVID Crisis. Fun chat.
Here's Joe's other interview which delves into how he became involved with founders. It's one of the most popular episodes I've recorded: Link to Joe Caruso's Story
]]>Joe Caruso is treasured by tech founders for his kind support and sage advice. He's back to tell us how his startups are dealing with the COVID Crisis. Fun chat.
Here's Joe's other interview which delves into how he became involved with founders. It's one of the most popular episodes I've recorded: Link to Joe Caruso's Story
]]>"We have solved in two weeks problems that were completely intractable before..."
Martin Aboitiz, CEO and founder of Healthjump and I explore the opportunity for scientific advancement from compiling a massive and accessible database of de-identified patient data made possible by the urgency COVID-19 created.
Here's my interview with Martin on his entrepreneurial journey towards the founding of Healthjump: https://www.angelinvestboston.com/ep-24/2017/9/25/martin-aboitiz-healthcare-paella-ep-24?rq=aboitiz
]]>"We have solved in two weeks problems that were completely intractable before..."
Martin Aboitiz, CEO and founder of Healthjump and I explore the opportunity for scientific advancement from compiling a massive and accessible database of de-identified patient data made possible by the urgency COVID-19 created.
Here's my interview with Martin on his entrepreneurial journey towards the founding of Healthjump: https://www.angelinvestboston.com/ep-24/2017/9/25/martin-aboitiz-healthcare-paella-ep-24?rq=aboitiz
]]>Both Jinesh and Susan are alums of the podcast. Here are their full-length interviews:
]]>Both Jinesh and Susan are alums of the podcast. Here are their full-length interviews:
]]>Mike Nardella built an ad agency while an undergrad at Boston College. That work would eventually lead to the founding of Relevize, a platform that facilitates the interactions of big brands with their local partners. Trends in social media are presenting big opportunities for this Boston-based startup.
Highlights from the interview:
Mike Nardella built an ad agency while an undergrad at Boston College. That work would eventually lead to the founding of Relevize, a platform that facilitates the interactions of big brands with their local partners. Trends in social media are presenting big opportunities for this Boston-based startup.
Highlights from the interview:
Part-time work to pay off student debt led Michelle Carazas to the opportunity she's pursuing in her startup, Host Events. Her tech-enabled service provides insured and vetted bartenders to liven up corporate events at companies that seek to create a welcoming culture for Millennial employees. Fast and profitable growth, together with funding from Launchpad Venture Group are validating Michelle's idea. Great interview with a compelling founder who expresses beautifully what draws her to startup life.
Highlights include:
Part-time work to pay off student debt led Michelle Carazas to the opportunity she's pursuing in her startup, Host Events. Her tech-enabled service provides insured and vetted bartenders to liven up corporate events at companies that seek to create a welcoming culture for Millennial employees. Fast and profitable growth, together with funding from Launchpad Venture Group are validating Michelle's idea. Great interview with a compelling founder who expresses beautifully what draws her to startup life.
Highlights include:
The dispersal of medical equipment by the move to outpatient medicine has presented a huge opportunity for repeat founder Jinesh Patel. His startup, UptimeHealth, provides outsourced monitoring of the complex compliance requirements of equipment located at the proliferating outpatient facilities. UptimeHealth is also creating a marketplace for service technicians to reduce response times and costs. Jinesh's affable manner and clear understanding of this promising market made this a delightful interview.
Highlights include:
]]>
The dispersal of medical equipment by the move to outpatient medicine has presented a huge opportunity for repeat founder Jinesh Patel. His startup, UptimeHealth, provides outsourced monitoring of the complex compliance requirements of equipment located at the proliferating outpatient facilities. UptimeHealth is also creating a marketplace for service technicians to reduce response times and costs. Jinesh's affable manner and clear understanding of this promising market made this a delightful interview.
Highlights include:
]]>
"The biggest thing that we learned is that 78% of them were struggling to share those stories with their consumers, the biggest reason being a fear of feeling inauthentic."
"What do I mean by the organic model? I mean that the influencers we're engaging for these brands are not paid."
Ashland Stansbury, age 23, is building a new category with her startup, Because Intelligence. Belief marketing helps brands create genuine connections with their customers. She's funded by Launchpad and BOSS Syndicate.
Highlights include:
"The biggest thing that we learned is that 78% of them were struggling to share those stories with their consumers, the biggest reason being a fear of feeling inauthentic."
"What do I mean by the organic model? I mean that the influencers we're engaging for these brands are not paid."
Ashland Stansbury, age 23, is building a new category with her startup, Because Intelligence. Belief marketing helps brands create genuine connections with their customers. She's funded by Launchpad and BOSS Syndicate.
Highlights include:
"Their internal users will see that their access time to an instrument goes down. They can get on it sooner, which is counter-intuitive, but it is reality."
What if scientists could plan and run experiments much faster? Meenta's software platform is making the use of high-end research equipment far more efficient. Co-Founder & CTO Stephan Smith is excited by the massive opportunity his startup is addressing.
Highlights include:
]]>
"Their internal users will see that their access time to an instrument goes down. They can get on it sooner, which is counter-intuitive, but it is reality."
What if scientists could plan and run experiments much faster? Meenta's software platform is making the use of high-end research equipment far more efficient. Co-Founder & CTO Stephan Smith is excited by the massive opportunity his startup is addressing.
Highlights include:
]]>
Creating new ways to experience startup events has led Oana Manolache to found Introvoke, a streaming service tailored to this growing space. Relying on her work at HP, Oana is getting strong traction from organic growth. A great interview with a compelling immigrant founder.
Highlights include:
Creating new ways to experience startup events has led Oana Manolache to found Introvoke, a streaming service tailored to this growing space. Relying on her work at HP, Oana is getting strong traction from organic growth. A great interview with a compelling immigrant founder.
Highlights include:
Lessons from a failed IPO led Christian Magel to great success in his own businesses. Now he's built a shared work space applying those valuable lessons. A bravura interview recorded live at Venture Lane Startup Hub.
Highlights include:
]]>
Lessons from a failed IPO led Christian Magel to great success in his own businesses. Now he's built a shared work space applying those valuable lessons. A bravura interview recorded live at Venture Lane Startup Hub.
Highlights include:
]]>
Making the capture of high school sports video easy and affordable is the mission of Realplay. Founder Justin Real explains the business and his motivations to get into it. Fun and insightful conversation with an energetic and focused founder.
Highlights include:
Making the capture of high school sports video easy and affordable is the mission of Realplay. Founder Justin Real explains the business and his motivations to get into it. Fun and insightful conversation with an energetic and focused founder.
Highlights include:
The brilliant son of immigrants discovers a way of identifying and counting bacteria that could upend the world of diagnostics. Listen to this engrossing interview with professor and founder Ed Goluch of QSM Diagnostics.
Highlights include:
The brilliant son of immigrants discovers a way of identifying and counting bacteria that could upend the world of diagnostics. Listen to this engrossing interview with professor and founder Ed Goluch of QSM Diagnostics.
Highlights include:
How to fund scrappy biotech startups is foremost on Jeff Behrens' mind. He was CEO if a startup that raised $20 million in funding but not one cent from VCs. An invaluable interview for anyone thinking of starting or investing in a life science company.
Highlights include:
How to fund scrappy biotech startups is foremost on Jeff Behrens' mind. He was CEO if a startup that raised $20 million in funding but not one cent from VCs. An invaluable interview for anyone thinking of starting or investing in a life science company.
Highlights include:
DipJar makes charitable giving fast and compelling. 8,500 devices are deployed to 4,500 clients and the business is set to scale fast. My interview with Chris Selland, CEO was an excellent opportunity to learn more about this exciting company just after I invested.
Interview highlights include:
DipJar makes charitable giving fast and compelling. 8,500 devices are deployed to 4,500 clients and the business is set to scale fast. My interview with Chris Selland, CEO was an excellent opportunity to learn more about this exciting company just after I invested.
Interview highlights include:
Silicon Valley's angel-investing phenomenon Jason Calacanis is our guest. Hear how he turned $700K into a portfolio worth $100 million. We had an inspiring conversation about building companies and investing in them.
Highlights include:
Silicon Valley's angel-investing phenomenon Jason Calacanis is our guest. Hear how he turned $700K into a portfolio worth $100 million. We had an inspiring conversation about building companies and investing in them.
Highlights include:
Which Founding Teams Succeed? Are Founders Born or Made? Can Innovation Be Crowdsourced? How Many Jobs Do MIT & Stanford Add to the Economy? Blockchain for the Supply Chain? Chuck Eesley, Stanford's Startup Prof Addresses These Questions and More.
Highlights include:
Which Founding Teams Succeed? Are Founders Born or Made? Can Innovation Be Crowdsourced? How Many Jobs Do MIT & Stanford Add to the Economy? Blockchain for the Supply Chain? Chuck Eesley, Stanford's Startup Prof Addresses These Questions and More.
Highlights include:
The need to re-skill is essential for workers confronting AI with obsolescent knowledge. Techstars alum Ace-Up is addressing this problem with a software platform that makes executive coaching more accessible and accountable. Founder Will Foussier opened for us a fascinating window into this important but obscure industry.
Highlights include:
The need to re-skill is essential for workers confronting AI with obsolescent knowledge. Techstars alum Ace-Up is addressing this problem with a software platform that makes executive coaching more accessible and accountable. Founder Will Foussier opened for us a fascinating window into this important but obscure industry.
Highlights include:
A professor of entrepreneurship in Paris who discovered a way to use art to help business people think more creatively, Sylvain Bureau met his unlikely collaborator at a wedding. The product of this chance encounter, Art Thinking, has gained acceptance in boardrooms around the world. My sound engineer Raul Rosa really liked this episode. I did too.
Startup Parade
A professor of entrepreneurship in Paris who discovered a way to use art to help business people think more creatively, Sylvain Bureau met his unlikely collaborator at a wedding. The product of this chance encounter, Art Thinking, has gained acceptance in boardrooms around the world. My sound engineer Raul Rosa really liked this episode. I did too.
Startup Parade
Click Here to Learn About Our Syndicates
Still in his thirties and still working full-time, Phillip Lachman is a leader at Walnut Ventures. How this startup exec finds time to invest as an angel is a remarkable story. Clever, articulate and full of good cheer, Phillip is always a delightful interlocutor. Fun episode!
Highlights:
Click Here to Learn About Our Syndicates
Still in his thirties and still working full-time, Phillip Lachman is a leader at Walnut Ventures. How this startup exec finds time to invest as an angel is a remarkable story. Clever, articulate and full of good cheer, Phillip is always a delightful interlocutor. Fun episode!
Highlights:
Seasoned entrepreneur Nancy Briefs on her startup's daring swing at Type 2 diabetes. AltrixBio is creating a pill that simulates the benefit of the best gastric bypass surgery: remission of diabetes in 80 percent of cases. With co-founders Jeff Karp and Ali Tavakoli, she is re-purposing an existing treatment with a great safety profile to address this daunting problem.
Highlights include:
Seasoned entrepreneur Nancy Briefs on her startup's daring swing at Type 2 diabetes. AltrixBio is creating a pill that simulates the benefit of the best gastric bypass surgery: remission of diabetes in 80 percent of cases. With co-founders Jeff Karp and Ali Tavakoli, she is re-purposing an existing treatment with a great safety profile to address this daunting problem.
Highlights include:
Barely two years out of Harvard, founder Ben Pleat of Cobu has owners of premier apartment buildings excited by the community-creating activities that make their properties more desirable places to live. Owners spend heavily on making the physical spaces attractive but are frequently frustrated by tenant turnover that averages 50 per cent per annum. Cobu helps develop a sense of belonging that increases tenant satisfaction and lowers turnover. Ben's not doing this alone, he's recruited an impressive team of colleagues and advisors who share his vision. He tells us the Cobu story in an accessible and engaging manner.
Topics include:
Introduction
Cobu
Founding Story
Team
Sal' Portfolio Company Vedanta Biosciences
Cobu's Go to Market Strategy
Metrics
LinkedIn as an Example
Podcasts Ben Listens to
Business Model
Projections
Finding Your Calling
Ben's Parting Thoughts
Barely two years out of Harvard, founder Ben Pleat of Cobu has owners of premier apartment buildings excited by the community-creating activities that make their properties more desirable places to live. Owners spend heavily on making the physical spaces attractive but are frequently frustrated by tenant turnover that averages 50 per cent per annum. Cobu helps develop a sense of belonging that increases tenant satisfaction and lowers turnover. Ben's not doing this alone, he's recruited an impressive team of colleagues and advisors who share his vision. He tells us the Cobu story in an accessible and engaging manner.
Topics include:
Introduction
Cobu
Founding Story
Team
Sal' Portfolio Company Vedanta Biosciences
Cobu's Go to Market Strategy
Metrics
LinkedIn as an Example
Podcasts Ben Listens to
Business Model
Projections
Finding Your Calling
Ben's Parting Thoughts
Scientist and intrapreneur Gillian Isabelle, PhD, founded Enlivity (https://enlivity.com/) to make chemotherapy more bearable for cancer patients. The first product is a supplement invented by an oncologist that helps prevent sores from forming in the mouths and digestive tracts of patients receiving chemotherapy, a problem that can delay life-saving treatment. A fun interview with an infectiously affable guest.
Scientist and intrapreneur Gillian Isabelle, PhD, founded Enlivity (https://enlivity.com/) to make chemotherapy more bearable for cancer patients. The first product is a supplement invented by an oncologist that helps prevent sores from forming in the mouths and digestive tracts of patients receiving chemotherapy, a problem that can delay life-saving treatment. A fun interview with an infectiously affable guest.
Two young founders on a mission to get valuable data about complex illnesses which are not now easily captured. Nell Meosky Luo and Dan Toffling of Folia Health tell the story of how their startup came together and where it's headed.
Highlights include:
Two young founders on a mission to get valuable data about complex illnesses which are not now easily captured. Nell Meosky Luo and Dan Toffling of Folia Health tell the story of how their startup came together and where it's headed.
Highlights include:
To super angel Jeff Arnold the way to make money in biotech is to make few but highly researched bets and then back them to the hilt. His remarkable record is hard to argue with. The interview takes us from his student days at MIT through his various startups and investments; a tour de force. His approach has much to teach angels and founders.
To super angel Jeff Arnold the way to make money in biotech is to make few but highly researched bets and then back them to the hilt. His remarkable record is hard to argue with. The interview takes us from his student days at MIT through his various startups and investments; a tour de force. His approach has much to teach angels and founders.
Engineer and consultant Susan Conover's struggle with skin cancer inspires her to apply AI to help us understand what's going on with our skin. This determined founder has made considerable headway in building the most valuable asset an AI startup can have: a strong, proprietary data set. A fun interview with a dynamic founder.
Highlights include:
Engineer and consultant Susan Conover's struggle with skin cancer inspires her to apply AI to help us understand what's going on with our skin. This determined founder has made considerable headway in building the most valuable asset an AI startup can have: a strong, proprietary data set. A fun interview with a dynamic founder.
Highlights include:
Two of Boston's most active angels, Marlene Boyaner of Golden Seeds and Doug Bates of Walnut Venture, talk to Sal Daher about angel investing, fundraising, building a startup and various other topics. The panel takes challenging questions from an audience of startup founders.
Highlights include:
Audience Questions:
Two of Boston's most active angels, Marlene Boyaner of Golden Seeds and Doug Bates of Walnut Venture, talk to Sal Daher about angel investing, fundraising, building a startup and various other topics. The panel takes challenging questions from an audience of startup founders.
Highlights include:
Audience Questions:
Building a business in education is hard but Steve Shapiro has beaten the odds several times. His latest accomplishment is as CEO of FineTune Learning which is set to grade essays from 3.6 million students taking the CollegeBoard's AP Exams starting in July of 2019. Founded by brilliant Maine educator Ogden Morse, FineTune Learning is a platform using software to facilitate human grading of essays at scale.
An awesome interview with an outstanding and captivating entrepreneur.
Highlights of the interview:
Building a business in education is hard but Steve Shapiro has beaten the odds several times. His latest accomplishment is as CEO of FineTune Learning which is set to grade essays from 3.6 million students taking the CollegeBoard's AP Exams starting in July of 2019. Founded by brilliant Maine educator Ogden Morse, FineTune Learning is a platform using software to facilitate human grading of essays at scale.
An awesome interview with an outstanding and captivating entrepreneur.
Highlights of the interview:
How his grandfather succeeded despite being blind inspired Shivang Dave, Ph.D. to change the world. As an accomplished bioengineer and a founder, he aims to bring high-quality eye exams to the masses in India with a new device. The Madrid-MIT M+Visión Fellowship was crucial to building a capable and cohesive founding team for PlenOptika. Shivang was a cheery and inspiring guest; great interview!
Some highlights:
How his grandfather succeeded despite being blind inspired Shivang Dave, Ph.D. to change the world. As an accomplished bioengineer and a founder, he aims to bring high-quality eye exams to the masses in India with a new device. The Madrid-MIT M+Visión Fellowship was crucial to building a capable and cohesive founding team for PlenOptika. Shivang was a cheery and inspiring guest; great interview!
Some highlights:
From studying Ancient Greek to building a business, founder Brendan Dowdall has traveled an interesting path. Construction is a staid industry but Brendan is revolutionizing it with data. Concrete Sensors' innovative devices sit in concrete and transmit data. The payoff is already evident in time savings and improvements in quality experienced by the industry's biggest players. As their data set grows, Concrete Sensors hopes to become the go-to source of information for contractors on concrete.
I was an early investor in this company and am excited about its future. It was a fun and instructive interview with a delightful founder.
Highlights include:
From studying Ancient Greek to building a business, founder Brendan Dowdall has traveled an interesting path. Construction is a staid industry but Brendan is revolutionizing it with data. Concrete Sensors' innovative devices sit in concrete and transmit data. The payoff is already evident in time savings and improvements in quality experienced by the industry's biggest players. As their data set grows, Concrete Sensors hopes to become the go-to source of information for contractors on concrete.
I was an early investor in this company and am excited about its future. It was a fun and instructive interview with a delightful founder.
Highlights include:
Two friends from Turkey are bringing the latest advances in AI to people with visual impairments. Emre Sarbak was a consultant and a successful social entrepreneur. Çağrı Zaman was an architect but is now completing his PhD at MIT's Media Lab in computer vision. Their startup Mediate is building practical tools to help people with reduced vision navigate the world.
Topics covered include:
Two friends from Turkey are bringing the latest advances in AI to people with visual impairments. Emre Sarbak was a consultant and a successful social entrepreneur. Çağrı Zaman was an architect but is now completing his PhD at MIT's Media Lab in computer vision. Their startup Mediate is building practical tools to help people with reduced vision navigate the world.
Topics covered include:
Upon graduating in the upper strata of her engineering class at MIT, Lucinda Linde was promptly accepted at Harvard Business school. She worked as an engineer in two successful tech companies, one of which was co-founded by Clayton Christensen of "Innovator's Dilemma" fame. Her incisive intellect and practical outlook were prized by giants such as HBS' Howard Stevenson (Link to Howard Stevenson's Interview - Our Most Downloaded Podcast) who hired her to study best practices in angel investing. Lucinda joined Walnut and entered the realm of venture investing. Along the way she took seven years off to be a full-time mother. She has now reinvented herself as a mathy marketing consultant.
Upon graduating in the upper strata of her engineering class at MIT, Lucinda Linde was promptly accepted at Harvard Business school. She worked as an engineer in two successful tech companies, one of which was co-founded by Clayton Christensen of "Innovator's Dilemma" fame. Her incisive intellect and practical outlook were prized by giants such as HBS' Howard Stevenson (Link to Howard Stevenson's Interview - Our Most Downloaded Podcast) who hired her to study best practices in angel investing. Lucinda joined Walnut and entered the realm of venture investing. Along the way she took seven years off to be a full-time mother. She has now reinvented herself as a mathy marketing consultant.
Science is broken. Vast increases in people and money applied to scientific inquiry have failed to raise the rate of discovery. Among the reasons for this is that the workflow of labs is firmly stuck in the 1990s. Repeat founder Gabor Bethlendy is tackling this huge problem by creating Meenta.io, a platform to allow researchers to plan and execute their experiments via an online interface.
Gabor is tenacious and energetic. He's recruited to his effort co-founder Stephan Smith who is also very impressive and complements Gabor's scientific background with a sophisticated understanding of the online universe. They've signed up their first big paying customer and have had a great stint at Techstars which has refined their go to market approach.
Some highlight from the interview:
Science is broken. Vast increases in people and money applied to scientific inquiry have failed to raise the rate of discovery. Among the reasons for this is that the workflow of labs is firmly stuck in the 1990s. Repeat founder Gabor Bethlendy is tackling this huge problem by creating Meenta.io, a platform to allow researchers to plan and execute their experiments via an online interface.
Gabor is tenacious and energetic. He's recruited to his effort co-founder Stephan Smith who is also very impressive and complements Gabor's scientific background with a sophisticated understanding of the online universe. They've signed up their first big paying customer and have had a great stint at Techstars which has refined their go to market approach.
Some highlight from the interview:
Action Jack Barker move over! Chainsaw Jack Huntress is the real deal. CEOs don't get more dynamic than this geologist turned founder. Jack's startup, HomeBinder offers invaluable tools to help homeowners manage and record work done on their most valuable asset. It's getting real traction via home inspectors eager to help home buyers. Breaking News: HomeBinder is in Techstars!
Special mention in this episode: Ed Hosepian and Dean Kahr. Thanks for your generous help in the purchase of the big, dilapidated house in Cambridge. Guys, you were right!
Action Jack Barker move over! Chainsaw Jack Huntress is the real deal. CEOs don't get more dynamic than this geologist turned founder. Jack's startup, HomeBinder offers invaluable tools to help homeowners manage and record work done on their most valuable asset. It's getting real traction via home inspectors eager to help home buyers. Breaking News: HomeBinder is in Techstars!
Special mention in this episode: Ed Hosepian and Dean Kahr. Thanks for your generous help in the purchase of the big, dilapidated house in Cambridge. Guys, you were right!
Esportudo.com is creating new ways for sports fans in Latin America to engage with their sport. Founder Marcos Araújo, whose parents came to the Boston area from Brazil, is leveraging his background in digital media to address a huge unmet need. His website now gets 20 million visits a month and is growing. Brands love the opportunity to engage with the Latin community in an effective way.
Esportudo.com is creating new ways for sports fans in Latin America to engage with their sport. Founder Marcos Araújo, whose parents came to the Boston area from Brazil, is leveraging his background in digital media to address a huge unmet need. His website now gets 20 million visits a month and is growing. Brands love the opportunity to engage with the Latin community in an effective way.
Sam Bogoch's company, axle.ai, helps clients with massive video files make sense of the content they have. The accumulation of video content is going way beyond the traditional broadcast networks and includes universities, large enterprises not in the entertainment industry, churches, sports venues etc. Video has yet to migrate to the cloud. It still sits in hard drives.
The conversation with this brilliant interlocutor expanded my understanding of significant trends in video.
Here are some highlights:
Sam Bogoch's company, axle.ai, helps clients with massive video files make sense of the content they have. The accumulation of video content is going way beyond the traditional broadcast networks and includes universities, large enterprises not in the entertainment industry, churches, sports venues etc. Video has yet to migrate to the cloud. It still sits in hard drives.
The conversation with this brilliant interlocutor expanded my understanding of significant trends in video.
Here are some highlights:
Star founder Bryanne Leeming is back to update us on all the exciting stuff Unruly Studios has been doing. Alexa Accelerator, Inc. Magazine feature, adoption by the City of Somerville and more. Listen to this scrappy young founder who's done a lot with very little.
Topics include:
Star founder Bryanne Leeming is back to update us on all the exciting stuff Unruly Studios has been doing. Alexa Accelerator, Inc. Magazine feature, adoption by the City of Somerville and more. Listen to this scrappy young founder who's done a lot with very little.
Topics include:
DACA recipient, Berkeley grad, and a Googler, Victor Santos is not a typical startup founder. His Boston-based startup, Airfox is addressing a huge problem: access to affordable financing in Latin America. Through a partnership with one of Brazil's leading retail lenders, Airfox is able to gather data that enables lower-cost lending in a country where consumers routinely pay interest rates of 400% per annum.
Highlights from the interview include:
DACA recipient, Berkeley grad, and a Googler, Victor Santos is not a typical startup founder. His Boston-based startup, Airfox is addressing a huge problem: access to affordable financing in Latin America. Through a partnership with one of Brazil's leading retail lenders, Airfox is able to gather data that enables lower-cost lending in a country where consumers routinely pay interest rates of 400% per annum.
Highlights from the interview include:
Brilliant Spanish postdoc, Carlos Castro-González, goes to MIT's "Magic Wand" lab, and joins a superb international team to address an important medical problem. Leuko, their startup, now has a device and software that can tell when cancer patients are becoming immuno-compromised. Leuko's product has the potential of saving 4,000 lives and $1.5 billion every year by cutting in half opportunistic infections associated with chemotherapy.
Some highlights from this charming conversation with a well-spoken scientist & founder:
Brilliant Spanish postdoc, Carlos Castro-González, goes to MIT's "Magic Wand" lab, and joins a superb international team to address an important medical problem. Leuko, their startup, now has a device and software that can tell when cancer patients are becoming immuno-compromised. Leuko's product has the potential of saving 4,000 lives and $1.5 billion every year by cutting in half opportunistic infections associated with chemotherapy.
Some highlights from this charming conversation with a well-spoken scientist & founder:
A Renaissance man still lives in our times. He's been a priest, a Harvard prof, a non-profit exec and he's now a founder. The startup Larry Sullivan helped found has built a platform on which C-level executives implement strategic initiatives. The proof of the pudding is that Chiefofstaff.com's platform has been adopted by some of the biggest names including Deloitte.
Larry is a charming guest. His vast knowledge and dry humor made for a really fun podcast!
Highlights include:
A Renaissance man still lives in our times. He's been a priest, a Harvard prof, a non-profit exec and he's now a founder. The startup Larry Sullivan helped found has built a platform on which C-level executives implement strategic initiatives. The proof of the pudding is that Chiefofstaff.com's platform has been adopted by some of the biggest names including Deloitte.
Larry is a charming guest. His vast knowledge and dry humor made for a really fun podcast!
Highlights include:
Highlights include:
Highlights include:
I met Amanda at a mentoring session at The Capital Network (TCN), a really valuable institution that helps founders and investors.
Some of the highlights of the interview include:
I met Amanda at a mentoring session at The Capital Network (TCN), a really valuable institution that helps founders and investors.
Some of the highlights of the interview include:
Techstars and Shark Tank alumna Alice Lewis is building both a business and a movement. Her startup, Alice's Table, offers a "business in a box" to entrepreneurial women who need a flexible schedule and want a meaningful activity. Alice's Table helps with logistics, marketing, training and technology; the members, called "execs", bring energy and connection with local brick & mortar businesses hungry for new things to keep their locations busy. Don't miss this sparkling interview with her generation's Martha Stewart.
Highlights include:
Techstars and Shark Tank alumna Alice Lewis is building both a business and a movement. Her startup, Alice's Table, offers a "business in a box" to entrepreneurial women who need a flexible schedule and want a meaningful activity. Alice's Table helps with logistics, marketing, training and technology; the members, called "execs", bring energy and connection with local brick & mortar businesses hungry for new things to keep their locations busy. Don't miss this sparkling interview with her generation's Martha Stewart.
Highlights include:
Here are some highlights from the podcast:
Here are some highlights from the podcast:
Coming from a family of lawyers in Italy, Laura Indolfi was an unlikely candidate to found a tech startup. Yet, her love of engineering and fascination with materials took her to the storied labs at MIT led by Elazer Edelman and Bob Langer. Her startup, PanTher Therapeutics is using off-the-shelf cancer drugs and biomaterials to create a new way to treat cancers that are really hard to treat such as pancreatic cancer, Laura's first target. Don't miss this lively interview with a stellar founder.
Highlights include:
Coming from a family of lawyers in Italy, Laura Indolfi was an unlikely candidate to found a tech startup. Yet, her love of engineering and fascination with materials took her to the storied labs at MIT led by Elazer Edelman and Bob Langer. Her startup, PanTher Therapeutics is using off-the-shelf cancer drugs and biomaterials to create a new way to treat cancers that are really hard to treat such as pancreatic cancer, Laura's first target. Don't miss this lively interview with a stellar founder.
Highlights include:
How do you become the giant player in a fragmented business like that of finding voice-over talent? This is just one of the questions that intrigued me in this interview with David Ciccarelli, CEO & Co-Founder of Voices, a business he stated and runs with his wife and co-founder Stephanie. If you're raising money, this episode and "The Secrets of Fundraising" (Click Here) are must listen.
Highlights include:
How do you become the giant player in a fragmented business like that of finding voice-over talent? This is just one of the questions that intrigued me in this interview with David Ciccarelli, CEO & Co-Founder of Voices, a business he stated and runs with his wife and co-founder Stephanie. If you're raising money, this episode and "The Secrets of Fundraising" (Click Here) are must listen.
Highlights include:
Running a landscaping business while in grade school gave Sean Eldridge a taste for entrepreneurship. Years later, after a successful career in large corporations, he decided to start a business, Gain Life, building software to change people's lives. Big players in the insurance business are betting that Gain Life will help their bottom line.
Here are some things that came up during my interview of Sean Eldridge:
Running a landscaping business while in grade school gave Sean Eldridge a taste for entrepreneurship. Years later, after a successful career in large corporations, he decided to start a business, Gain Life, building software to change people's lives. Big players in the insurance business are betting that Gain Life will help their bottom line.
Here are some things that came up during my interview of Sean Eldridge:
Don't miss this accessible report from the frontier where machine is starting to make a tangible difference in medical care.
Some highlights from the interview:
Don't miss this accessible report from the frontier where machine is starting to make a tangible difference in medical care.
Some highlights from the interview:
Topics covered include:
Topics covered include:
Here are some highlights of what we discussed:
Here are some highlights of what we discussed:
I had loads of fun talking to this most clever and affable guest; and I learned a lot.
Here's what we touched on:
I had loads of fun talking to this most clever and affable guest; and I learned a lot.
Here's what we touched on:
Angel investors Catherine Friend White and Ben Littauer answered questions about investing in startups in front of an audience at Babson College. Then the audience got to ask questions. The conversation ranged from the optimal portfolio size to the usefulness of the blockchain.
Here are some highlights:
Angel investors Catherine Friend White and Ben Littauer answered questions about investing in startups in front of an audience at Babson College. Then the audience got to ask questions. The conversation ranged from the optimal portfolio size to the usefulness of the blockchain.
Here are some highlights:
Here are some highlights:
Here are some highlights:
Here are some highlights:
Here are some highlights:
Topics covered include:
Topics covered include:
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Aki Balogh had a project to apply machine learning to help content creators. Suddenly it looked like a business when Jeff Coyle, the VP of Search at an established company, joined him as co-founder. MarketMuse is now a fast-growing startup helping hundreds of companies figure out what content to create.
Aki, Jeff and VP of Engineering at MarketMuse, Noah Davis, were in studio for an engaging interview.
Some highlights:
Click Here to Join Our Syndicates List
Aki Balogh had a project to apply machine learning to help content creators. Suddenly it looked like a business when Jeff Coyle, the VP of Search at an established company, joined him as co-founder. MarketMuse is now a fast-growing startup helping hundreds of companies figure out what content to create.
Aki, Jeff and VP of Engineering at MarketMuse, Noah Davis, were in studio for an engaging interview.
Some highlights:
In this interview, repeat founder Jo Schneier addresses the problem of providing effective training to the 64 percent of the population that does not have a college degree. Drawing on Jo's experiences and prior startups, Cognotion's opening gambit is a training platform for Certified Nursing Assistants (CNAs) an occupation with stratospheric job turnover. Cognotion seems to be succeeding in improving retention of its client's CNAs.
Here are some of the topics addressed:
]]>
In this interview, repeat founder Jo Schneier addresses the problem of providing effective training to the 64 percent of the population that does not have a college degree. Drawing on Jo's experiences and prior startups, Cognotion's opening gambit is a training platform for Certified Nursing Assistants (CNAs) an occupation with stratospheric job turnover. Cognotion seems to be succeeding in improving retention of its client's CNAs.
Here are some of the topics addressed:
]]>
Cambridge-based Wistia has taken the road less-traveled to success. They did not raise a lot of money but now compete with richly-funded startups. What's their secret? Listen to the interview with the delightful founders of this popular video platform, Brendan Schwartz and Chris Savage, as they discuss the unique culture and vision that make the startup remarkable.
During the interview I pondered naming the episode "They Did It Their Way"; an echo of the song made famous by Frank Sinatra. I decided against this title because Chris and Brendan are nothing like the self-absorbed crooner. Actually, they are two friends from college who built a business together and still enjoy working and socializing with each other. The beautiful story of their friendship is only one of the attractions in this bravura interview.
Highlights include:
Cambridge-based Wistia has taken the road less-traveled to success. They did not raise a lot of money but now compete with richly-funded startups. What's their secret? Listen to the interview with the delightful founders of this popular video platform, Brendan Schwartz and Chris Savage, as they discuss the unique culture and vision that make the startup remarkable.
During the interview I pondered naming the episode "They Did It Their Way"; an echo of the song made famous by Frank Sinatra. I decided against this title because Chris and Brendan are nothing like the self-absorbed crooner. Actually, they are two friends from college who built a business together and still enjoy working and socializing with each other. The beautiful story of their friendship is only one of the attractions in this bravura interview.
Highlights include:
At age 32 Molly Lindquist was diagnosed with breast cancer. Other women in her family had also endured this terrible ordeal. She survived it and is fighting back. Consano, the crowdfunding platform she founded, funds more than 65 medical research projects at leading academic centers such as Dana-Farber and Memorial/Sloan Kettering. Her work is getting serious attention because she's figured out how to help disease survivors channel their energies towards defeating the illnesses that beset them. I had the opportunity of interviewing this energetic and engaging founder at TEDMED.
Here are some of the topics covered in this brief conversation:
At age 32 Molly Lindquist was diagnosed with breast cancer. Other women in her family had also endured this terrible ordeal. She survived it and is fighting back. Consano, the crowdfunding platform she founded, funds more than 65 medical research projects at leading academic centers such as Dana-Farber and Memorial/Sloan Kettering. Her work is getting serious attention because she's figured out how to help disease survivors channel their energies towards defeating the illnesses that beset them. I had the opportunity of interviewing this energetic and engaging founder at TEDMED.
Here are some of the topics covered in this brief conversation:
Growing up in humble circumstances in Ohio, Bob Goodof discovered he had a head for numbers from playing with his baseball cards. At MIT he excelled in material science. After stints in the chemical industry and an MBA from Harvard, Bob became an investment analyst on Wall Street specializing in the oil and gas industry. He now invests as an angel with Walnut Ventures and teaches at Babson. He's a sought-after advisor to startups and a valued colleague to other angels.
Here are the highlights form this fun and engaging conversation:
Growing up in humble circumstances in Ohio, Bob Goodof discovered he had a head for numbers from playing with his baseball cards. At MIT he excelled in material science. After stints in the chemical industry and an MBA from Harvard, Bob became an investment analyst on Wall Street specializing in the oil and gas industry. He now invests as an angel with Walnut Ventures and teaches at Babson. He's a sought-after advisor to startups and a valued colleague to other angels.
Here are the highlights form this fun and engaging conversation:
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Roboticist Keenan Wyrobek's first career was founding Willow Garage which created ROS (Robot Operating System) that now makes robotic components inter-operable. After creating a foundation to sustain this vital piece of open source software, Keenan went in search of new engineering challenges. He became intrigued with the idea of helping developing countries deliver crucial medical supplies to areas that are poorly served by roads. He co-founded Zipline, the VC funded venture that is improving the lives of people in rural Rwanda. Zipline is now poised for profitable growth. Listen to this inspiring and brilliant engineer speak passionately about solving major problems while building a business.
Topics covered:
Join Our Syndicates: Opt In to Syndicates List
Roboticist Keenan Wyrobek's first career was founding Willow Garage which created ROS (Robot Operating System) that now makes robotic components inter-operable. After creating a foundation to sustain this vital piece of open source software, Keenan went in search of new engineering challenges. He became intrigued with the idea of helping developing countries deliver crucial medical supplies to areas that are poorly served by roads. He co-founded Zipline, the VC funded venture that is improving the lives of people in rural Rwanda. Zipline is now poised for profitable growth. Listen to this inspiring and brilliant engineer speak passionately about solving major problems while building a business.
Topics covered:
JOIN OUR SYNDICATES: Opt In Here
Joe Meyer founded ExecThread, https://execthread.com/, to solve a pain point he felt acutely himself. Joe had sold his company to Apple and, after the obligatory stint at the acquirer, was looking for a senior executive position. He was astonished when he revealed all sorts of important things about his career profile to a recruiter and the recruiter did not take notes. That's when it hit him that the recruiting industry was totally broken and he decided to build a solution for the problem. Two and half years later he has $7MM in VC funding and 25,000 highly selected and engaged users helping him map where the "hidden jobs" are. Among his backers is a co-founder of LinkedIn who was astonished that ExecThread could be aware of the "passive job seeker", execs who would entertain an offer but who are not seeking a new position actively. Listen to this interview with a founder building a company that promises to be very big and very profitable.
Some of the topics addressed:
JOIN OUR SYNDICATES: Opt In Here
Joe Meyer founded ExecThread, https://execthread.com/, to solve a pain point he felt acutely himself. Joe had sold his company to Apple and, after the obligatory stint at the acquirer, was looking for a senior executive position. He was astonished when he revealed all sorts of important things about his career profile to a recruiter and the recruiter did not take notes. That's when it hit him that the recruiting industry was totally broken and he decided to build a solution for the problem. Two and half years later he has $7MM in VC funding and 25,000 highly selected and engaged users helping him map where the "hidden jobs" are. Among his backers is a co-founder of LinkedIn who was astonished that ExecThread could be aware of the "passive job seeker", execs who would entertain an offer but who are not seeking a new position actively. Listen to this interview with a founder building a company that promises to be very big and very profitable.
Some of the topics addressed:
In college, Diane Stokes juggled caring for a sick mother, working full-time, doing ROTC and even had time to be on U Mass Lowell's cheer leading squad. This energy and focus served her well as she progressed in her career of helping build startup after startup. Eventually, Diane founded a startup of her own. It succeeded beyond her greatest expectations. She invested as an angel for a while but is now back at another startup, helping them grow. My conversation with her revealed a personality of impressive determination and stamina leavened by good humor and genuine caring. I really enjoyed this interview, I think you will too.
Topics covered include:
In college, Diane Stokes juggled caring for a sick mother, working full-time, doing ROTC and even had time to be on U Mass Lowell's cheer leading squad. This energy and focus served her well as she progressed in her career of helping build startup after startup. Eventually, Diane founded a startup of her own. It succeeded beyond her greatest expectations. She invested as an angel for a while but is now back at another startup, helping them grow. My conversation with her revealed a personality of impressive determination and stamina leavened by good humor and genuine caring. I really enjoyed this interview, I think you will too.
Topics covered include:
Now a team of experienced product people are challenging some aspect of the Lean Startup Method. Among those voices are Geordie Kaytes, Radhika Dutt and Nidhi Aggarwal. They have seen the problems that blind adherence to the Lean Startup Method can bring, such as aimless and unproductive pivoting. They propose a rebalancing towards a more deliberate approach. In our interview Nidhi, Geordie and Radhika tell us what drove them to fashion this new approach to product creation.
Radical Product can be found at: Radical Product Website
]]>Now a team of experienced product people are challenging some aspect of the Lean Startup Method. Among those voices are Geordie Kaytes, Radhika Dutt and Nidhi Aggarwal. They have seen the problems that blind adherence to the Lean Startup Method can bring, such as aimless and unproductive pivoting. They propose a rebalancing towards a more deliberate approach. In our interview Nidhi, Geordie and Radhika tell us what drove them to fashion this new approach to product creation.
Radical Product can be found at: Radical Product Website
]]>
Here are some highlights from this eye-opening interview:
[The Product Is Called Triton and Has Been Adopted at 30 Hospitals and Used on 100,000 patients Already]
Here are some highlights from this eye-opening interview:
[The Product Is Called Triton and Has Been Adopted at 30 Hospitals and Used on 100,000 patients Already]
Learn More Here: Angel Invest Boston Syndicates
Guest: Semyon Dukach, Super Angel, Founder & VC - "The Energizer"
When Semyon Dukach's family came to America as refugees from the Soviet Union, they had a hundred dollars to their name. Semyon is now one of Boston's most consequential super angels. Along the way he founded a couple of startups himself and made some remarkable angel investments that put him in a position to be helping founders with money and time. He has a knack for encouraging founders during the tough times. He's done some fascinating stuff, like being a member of MIT's fabled blackjack team, more recently he headed up Techstars in Boston. Now he's raised a venture fund, One Way Ventures, focused on working with immigrant founders.
Don't miss this inspiring interview. Topics covered include:
Learn More Here: Angel Invest Boston Syndicates
Guest: Semyon Dukach, Super Angel, Founder & VC - "The Energizer"
When Semyon Dukach's family came to America as refugees from the Soviet Union, they had a hundred dollars to their name. Semyon is now one of Boston's most consequential super angels. Along the way he founded a couple of startups himself and made some remarkable angel investments that put him in a position to be helping founders with money and time. He has a knack for encouraging founders during the tough times. He's done some fascinating stuff, like being a member of MIT's fabled blackjack team, more recently he headed up Techstars in Boston. Now he's raised a venture fund, One Way Ventures, focused on working with immigrant founders.
Don't miss this inspiring interview. Topics covered include:
Learn More Here: Angel Invest Boston Syndicates
Shiva Kashalkar of Green Piñata Toys
The toy industry is hard for new comers. Building a subscription business in the toy industry is doubly hard. Despite the obstacles, Shiva Kashalkar and her company, Green Piñata Toys, are starting to get traction. They report 50% organic growth month over month with 90% monthly retention. The secret of their growth has been the creation of an algorithm to predict from the first delivery, what toys will be of most interest to their customer's children. Listen to this engaging conversation with a dynamic young founder who is beginning to see green shoots in her startup.
]]>Learn More Here: Angel Invest Boston Syndicates
Shiva Kashalkar of Green Piñata Toys
The toy industry is hard for new comers. Building a subscription business in the toy industry is doubly hard. Despite the obstacles, Shiva Kashalkar and her company, Green Piñata Toys, are starting to get traction. They report 50% organic growth month over month with 90% monthly retention. The secret of their growth has been the creation of an algorithm to predict from the first delivery, what toys will be of most interest to their customer's children. Listen to this engaging conversation with a dynamic young founder who is beginning to see green shoots in her startup.
]]>Learn More Here: Angel Invest Boston Syndicates
Shiva Kashalkar of Green Piñata Toys
The toy industry is hard for new comers. Building a subscription business in the toy industry is doubly hard. Despite the obstacles, Shiva Kashalkar and her company, Green Piñata Toys, are starting to get traction. They report 50% organic growth month over month with 90% monthly retention. The secret of their growth has been the creation of an algorithm to predict from the first delivery, what toys will be of most interest to their customer's children. Listen to this engaging conversation with a dynamic young founder who is beginning to see green shoots in her startup.
]]>Learn More Here: Angel Invest Boston Syndicates
Shiva Kashalkar of Green Piñata Toys
The toy industry is hard for new comers. Building a subscription business in the toy industry is doubly hard. Despite the obstacles, Shiva Kashalkar and her company, Green Piñata Toys, are starting to get traction. They report 50% organic growth month over month with 90% monthly retention. The secret of their growth has been the creation of an algorithm to predict from the first delivery, what toys will be of most interest to their customer's children. Listen to this engaging conversation with a dynamic young founder who is beginning to see green shoots in her startup.
]]>A couple of years ago she had a paper prototype and vague hopes for a Kickstarter program. Now she has a sleek physical product that works and is likely to get built. She has the software to make it valuable and she's completed a successful Kickstarter campaign. 3000 kids have played with Splat, the device and software Bryanne has built to encourage physically active and social play focused on STEM learning.
The interview with Bryanne Leeming left me inspired.
Here's some of what we talked about:
A couple of years ago she had a paper prototype and vague hopes for a Kickstarter program. Now she has a sleek physical product that works and is likely to get built. She has the software to make it valuable and she's completed a successful Kickstarter campaign. 3000 kids have played with Splat, the device and software Bryanne has built to encourage physically active and social play focused on STEM learning.
The interview with Bryanne Leeming left me inspired.
Here's some of what we talked about:
Jay Singh's is the first Founder Focus interview on Angel Invest Boston. This new format is a response to the growing demand from founders to be on the podcast. The interviews are shorter and done via VOIP, allowing for more immediacy while still maintaining good sound quality. These Founder Focus episodes will launch concurrent with our regular podcast to offer listeners a broader choice. I hope you enjoy them.
]]>Jay Singh's is the first Founder Focus interview on Angel Invest Boston. This new format is a response to the growing demand from founders to be on the podcast. The interviews are shorter and done via VOIP, allowing for more immediacy while still maintaining good sound quality. These Founder Focus episodes will launch concurrent with our regular podcast to offer listeners a broader choice. I hope you enjoy them.
]]>Close monitoring during treatment will become possible, telling us within days with much greater precision if a treatment is working or not. Long-term monitoring of patients in remission will also be revolutionized by making fewer biopsies necessary and detecting relapses much earlier. All these promises come from the technology developed in the lab of Çağrı [Cha-ree] Savran at Purdue University that is being commercialized in Savran Technologies.
The brilliant and charming Professor Savran was my guest in this laugh-filled episode. He told how he went from a childhood in Turkey to studying in some of America's most prominent universities. He opened my eyes to the startup-friendly climate at Purdue University and he explained how his invention came about. Don't miss this accessible and fun report from the most consequential frontier of innovation.
Read the full transcript and see the video at:
Here is a list of the topics discussed:
Close monitoring during treatment will become possible, telling us within days with much greater precision if a treatment is working or not. Long-term monitoring of patients in remission will also be revolutionized by making fewer biopsies necessary and detecting relapses much earlier. All these promises come from the technology developed in the lab of Çağrı [Cha-ree] Savran at Purdue University that is being commercialized in Savran Technologies.
The brilliant and charming Professor Savran was my guest in this laugh-filled episode. He told how he went from a childhood in Turkey to studying in some of America's most prominent universities. He opened my eyes to the startup-friendly climate at Purdue University and he explained how his invention came about. Don't miss this accessible and fun report from the most consequential frontier of innovation.
Read the full transcript and see the video at:
Here is a list of the topics discussed:
Being a founder of a startup in a place like Poland where the infrastructure to support new companies is just starting is really challenging. The four young founders have all demonstrated impressive determination to bring their startup's products to remarkably advanced stages.
In this inspiring chat you will meet Sergejs (Sergey) who studied economics but is making the oil patch greener, Tomasz who trained in robotics but helped invent a new way to train cardiologists, Rafal whose marketing platform has been adopted by Citibank and brilliant Katarzyna (Kate) who invented a way to make counterfeiting of products nearly impossible.
Being a founder of a startup in a place like Poland where the infrastructure to support new companies is just starting is really challenging. The four young founders have all demonstrated impressive determination to bring their startup's products to remarkably advanced stages.
In this inspiring chat you will meet Sergejs (Sergey) who studied economics but is making the oil patch greener, Tomasz who trained in robotics but helped invent a new way to train cardiologists, Rafal whose marketing platform has been adopted by Citibank and brilliant Katarzyna (Kate) who invented a way to make counterfeiting of products nearly impossible.
His father, Ithiel de Sola Pool, the brilliant political scientist (look up Six Degrees of Separation or Convergence) took young Adam to many different countries. These travels sparked in Adam an interest in geography which led to a job on Wall Street. From Salomon Brothers he went to the EBRD to restructure companies emerging from communism. This grew into setting up Central Europe's first cleantech fund which produced excellent results. Now Adam is an investor and advisor in the Boston area; much respected for his fresh approach to building young companies.
Topics covered in this charming interview include:
His father, Ithiel de Sola Pool, the brilliant political scientist (look up Six Degrees of Separation or Convergence) took young Adam to many different countries. These travels sparked in Adam an interest in geography which led to a job on Wall Street. From Salomon Brothers he went to the EBRD to restructure companies emerging from communism. This grew into setting up Central Europe's first cleantech fund which produced excellent results. Now Adam is an investor and advisor in the Boston area; much respected for his fresh approach to building young companies.
Topics covered in this charming interview include:
If you want to get rich and to pass money to your kids, listen closely to Howard Stevenson. Here's condensed wisdom from the heart of the investing world delivered with dry humor and charm. Professor Stevenson was a co-founder of storied Baupost Group and helped hire its legendary manager Seth Klarman. He began the study of entrepreneurship at Harvard Business School and eventually became HBS' biggest fundraiser.
His book "Wealth & Families" gives invaluable advice on how to make money and keep enough of it to hand down to the generations. My personal favorite is illustrated by this quote from the interview:
"Whereas, some of my colleagues were going off consulting ... They were making a lot of money every day, and they go their XKE (Jaguar XKE, a coveted sports car of the era) quite quickly. I went off to places like Lima, Ohio, and I was paid $300 a day, but I got 1% of the company."
Howard Stevenson was forgoing high current income, and consumption, for the ability to own promising assets that would build his wealth in the long term. This approach contributed to Professor Stevenson becoming rich enough to need a family office to manage his money.
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This dynamic conversation includes:
Transcript:
Sal Daher: Welcome to Angel Invest Boston. Conversations with Boston's most interesting angel investors and founders. I'm Sal Daher, and my goal for this Podcast, is to learn more about building successful new companies. The best way I can think of doing this is by talking to people who have done it. People such as entrepreneur, angel investor, and scholar of entrepreneurship, Howard Stevenson.
Professor Stevenson, Howard, I'm elated for the opportunity to interview you on this the 29th episode of our podcast. Thanks for hosting us at your offices. In this recording session outside our usual studio. This is what's normally called a remote.
H. Stevenson: Well it's not so remote, it's right in Harvard Square.
Sal Daher: That's right. Not too far away.
Howard Stevenson Bio
Howard Stevenson founded the storied Baupost Group, and is the father of entrepreneurial management, at the Harvard Business School. Howard has served on many boards, and his advice is prized by so many wealthy people. He has written extensively on business and social ventures. He has been generous with his time and treasure, towards philanthropic causes in which he believes. It is said that he has raised more money for Harvard Business School than anyone else. There is now a chair professorship named after him at HBS, in recognition of his outsized achievements.
Starting out as a math major, Howard has had a methodical approach to wealth during his entire career. While he measured assiduously the growth of his net worth, he also paid close attention to choosing work that was satisfying to him, and valuable to others. Informed by fear of the "Velvet Rut" that can trap tenured academics. Howard found his own career trail in several industries. By taking astute long-term bets, he has become wealthy enough to need his own family office, though he does not like the term.
In preparing for this interview, I read his latest book, Wealth and Families: Lessons from My Life Journey. Written with his longtime collaborator Shirley Spence. The book is a remarkable document, in that it grew out of another book. A book that he had written for his family, titled: Howard's Journey: Lessons from the Game of Life. This other book was written to impart his hard-earned lessons to his family. The family book was shared with a few close friends, who urged creation of a public version, which became Wealth and Families. Which, is the book we'll refer to in this conversation.
In concluding my introduction, I'd like to read a beautiful blurb of the book by Howard's colleague, Kenneth A. Fruit of Harvard Business School. "It is hard to fathom, even once you've read it. The compactness of the wisdom and insight Howard Stevenson provides in this short book. His perspective is practical, yet enormously synthetic. Don't be confused by the direct "Oh shucks" tone. The simple folksy-sounding analysis of the complex problem of intergenerational wealth, belies Howard's incorporation, and absorption of much more of the magic of mathematically rigorous laws of compounding and diversification. Sprinkling in a foundational knowledge of the tax code and the law. It's that he has in his own mental frame incorporated a sense of people's humanity, their strengths and weaknesses, their goals and actual accomplishments. Based on successfully watching and doing for all these years. The wisest teachers have all along been life's best and most observant students. Howard and this integrative little book that you and your progeny should share, are just that."
That's really beautifully written.
H. Stevenson: Yes, and I didn't even pay him.
Sal Daher: I know. I know those things are tremendous.
How Howard Stevenson Started His Career
As a service to our younger listeners Howard, I'd like to ask a question about how my massively successful guests got started in their careers. Tell us about the choice that confronted you when you completed your undergraduate in mathematics at Stanford, and what you chose.
H. Stevenson: Well it was fairly easy. I discovered when I was at Stanford, there were people who were smarter than I am, love math more, and worked harder. I decided I didn't want to compete with them.
I had looked at both law school, and business school, and in my great wisdom I discovered law school was three years long. Business school was two, and I chose business school.
Sal Daher: A math major, you could count.
H. Stevenson: I could count. Even on one hand. And, then I discovered that in fact Harvard gave me a bigger scholarship than Stanford for my continuation. End of story on the career that got me into Harvard Business School. Staying on to teach was another decision, which I think is, I've always loved learning, and what better way to learn than to teach. So, I did that for a couple of years, and then played investment banker with a friend on doing deals for small companies. Then I came back to the business school to do ... Well I came back to tell them I wasn't coming back, and they said, "What are you going to do?" And, I said, "Well I'm going to be a VP of Finance of a real estate company."
That meant that they thought that I knew something about real estate. I'd never read a book on the subject. I never had done anything in the field, and they said, "Do you want to teach the course?" And thought, "What better way to learn?" So, I came back to the business school, started a real estate course, or took over one that was sort of moribund. And, did that for five years. I came up for tenure, and I got tenure, and the Dean told me to do something important. So, I left again.
Fear of the "Velvet Rut" Causes Howard Stevenson to Leave a Tenured Position at Harvard Business School
But, part of the motivation of leaving was that I saw a lot of people in this "Velvet-lined Rut'. That it's very easy when you're successful, to keep doing what you're already doing. But, in fact the only way you can get from doing the wrong thing to the right thing, is probably doing the right thing poorly. And, so you have to learn, and I watch people who run the top of little hill, who didn't want to go down in the valley to try something new.
Sal Daher: This is very interesting. Very, very interesting. I wanted to elucidate a little bit, what was meant by the Velvet Rut. You think that academics tend to perhaps specialize a great deal? Become the most knowledgeable in a field, but are afraid to venture out, where they're not as knowledgeable?
H. Stevenson: Or where there're people who won't think they're as knowledgeable. But, I don't think that's restricted to academics.
Sal Daher: Mm-hmm (affirmative)
Howard Stevenson: "A lot of people are fairly miserable in their job, but they fear change more than they look for the optionality that comes in change."
H. Stevenson: A lot of people are fairly miserable in their job, but they fear change more than they look for the optionality that comes in change.
Sal Daher: Ah, yes. The optionality that comes in change.
H. Stevenson: And, we can never predict the results of change.
Sal Daher: No. No.
H. Stevenson: So, for me I said, "Look, I can always get a job." I think the dean, at that point was not interested in what I was doing, which was entrepreneurship and real estate. And I said, "Why do I want to work at some place where they don't value what I'm doing?"
Sal Daher: Mm-hmm (affirmative)
After a Sojourn in Entrepreneurship & Real Estate, Howard Stevenson Was Lured back to HBS
H. Stevenson: That led me to work with a private company. Became VP of Finance of a private company. Helped them raise money. Got some control systems in place. A whole bunch of things. So, I had a lot of learning, but after five years the learning went away and I ... The dean had heard that I was dissatisfied, and came and said, "You want to do something in entrepreneurship?" And this was a new dean, and he was a person I knew and trusted, and so I said, "Yes".
Sal Daher: It's a new direction and a new discipline that challenged you at the time. So, you felt that that did not have the risks of constraining you within this rut.
H. Stevenson: Absolutely not, and beyond that I knew that I could leave again.
Sal Daher: There are not a lot of people that would turn down tenured positions at The Harvard Business School. No, that is impressive.
Sal Daher: "There are not a lot of people that would turn down tenured positions at The Harvard Business School…" Howard Stevenson replies: "That's sad. I'm a trustee at Olin College, and they have no tenure. It's amazing what that does, because people are there voluntarily."
H. Stevenson: That's sad. I'm a trustee at Olin College, and they have no tenure. It's amazing what that does, because people are there voluntarily.
Sal Daher: Yes, yes. That is a remarkable organization.
We're going to talk a little bit now about building wealth. What type of early stage investments have you made, and how have they turned out over time?
Howard Stevenson on Building Wealth: "I've always been experimental, because I don't believe I understand and can predict the future. By the way, when you look that the facts, very few people can."
H. Stevenson: I've always been experimental, because I don't believe I understand and can predict the future. By the way, when you look that the facts, very few people can.
Sal Daher: That's right.
H. Stevenson: We've always tried to invest in places where, in the early stage, I prefer to invest when people have some revenue. Because, it points to the fact that there is somebody that's willing to have a cash-ectomy performed on their wallet.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: We like to be broadly diversified. I'm not trying to guess what's going to be in the next public market.
Sal Daher: You prefer companies that are post-revenue? That are ...
H. Stevenson: Post revenue.
Sal Daher: Earning, okay.
H. Stevenson: And ...
Sal Daher: In a growth stage?
H. Stevenson: In a growth stage, where they need the money to ... If it's in biotech, I prefer something where the scientific risk is out.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: But the market risk is still there. The best investment I ever made was in a company that had a really stupid business plan. But, the people were fantastic.
Sal Daher: Yes.
Howard Stevenson's 400x Investment in a Company with a "Stupid Business Plan"
H. Stevenson: They were in an industry that I thought was very interesting. I thought that what they were doing in that industry made no sense. Over a couple of years, they morphed, and that's probably returned 400 to 1.
Sal Daher: Oh, the 400 to 1 return that everybody's looking for, to pay for the rest of the portfolio.
H. Stevenson: Yes. But ...
Sal Daher: Which company was that?
H. Stevenson: It's a company called Asurion.
Sal Daher: Asurion.
H. Stevenson: And, they are very quiet, I'm still invested.
Sal Daher: Yes.
H. Stevenson: They're doing very well. One of my friends, who's a noted venture capitalist, turned them down because the business plan was too stupid. That's been one of the worst decisions he ever made. Whereas, one of the other venture capitalists that put a little money in, it's the best decision he's made in his life.
Sal Daher: I know, those kinds of investments are few and far between, and when you turn one of those down, it's hard to live it down.
H. Stevenson: You have to live life forward, you can't live with regrets.
Sal Daher: True, true, true, but I think there is some room for learning.
Howard Stevenson's Four Criteria for Investing
H. Stevenson: I think the thing that I've learned is. I have four criteria for investing in companies I know and love. Is the person honest? Because, if they're not honest they'll screw you some way.
Sal Daher: Oh yeah, that goes without saying.
H. Stevenson: Now how do you figure out if they're honest? Well, there're two ways: 1. You know them. Or, 2. One of my favorite questions is, "Tell me about the sharpest deal you ever did?"
And, it's amazing what people will tell you. One guy told me how he cheated the IRS. And you say, "Well if they can send you to jail, and I can't, and you're still willing to do it, I think I know something about your value system."
Sal Daher: That is remarkable, that is remarkable.
H. Stevenson: The second criteria, that I like to use in investing is: Are they nice? By that I mean, are they looking out for somebody other than themselves?
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: I've had experience in start-up or early stage investments, where the entrepreneur takes care of themselves really well, and the early stage investors not so much.
Sal Daher: Left hold the proverbial bag.
H. Stevenson: Well, or holding nothing.
We have one that just went public, and I think compared to my investments, I'll make 10 cents on the dollar, even though the company was successful. And, I went through three or four rounds, and I discovered what the person was.
But, trying to figure out are they nice, that means talking to people that know them. Looking at past decisions. I've had investors ... Or, I've had companies where we lost all the money, and they gave me stock in the next venture they did. Which is a good sign that they are nice people.
Sal Daher: Yeah, that is a nice sign, yeah.
H. Stevenson: The third element is: Are they curious?
Because if you believe that the future is impossible to predict, then anybody who thinks they know the future absolutely, is not looking around the corner. I go back to my example of the best one we ever did. They had a bad plan, but they were curious, and they said, "Where can we serve this group of customers, with a very profitable notion?" And, they found it.
Howard Stevenson's Portfolio Returns; Warren Buffett-Like
And the last is: Are they smart? Because, this is a very complicated field. Now you ask how we've done. We've been doing it for about 25 years, since I sold down some of my position at Baupost, and left active management. I was the president for the first eight years. We probably return 17% or 18%. Probably 12% without the real big winner.
Sal Daher: Mm-hmm (affirmative). So, a little bit ahead of what Baupost has done in the same time?
H. Stevenson: Yes. I guess I look at it, and I say, when I've done the analysis ...
Sal Daher: Probably a lot higher beta.
H. Stevenson: Yeah. It's actually interesting, I've divided things into five categories. Stuff happened, I don't use the word stuff when I'm talking about this.
Sal Daher: Yes. I understand.
H. Stevenson: That was a ... The guy got a pancreatic cancer soon after we invested. The Tanzanian government it over, because it was too profitable, and they wanted their cousin to own it. And, you can go through some, but there weren't a lot of those.
There was the wrong on the bet category.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: It was a good bet, but it didn't work. And, I think in a lot of what we're doing, you've got to differentiate between, is it a good bet, and did it work?
Sal Daher: Yes.
H. Stevenson: Because, on a high variance bet, it's not going to work out all the time. But, one of the things we always try to do is say, "What are we betting on? What are the three or four conditions we're betting on?" And, then sometimes they're not going to work.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: Then there is, we made it safely through. Then there was a few good things happened. If you take the bottom three categories, I think we got about 7% out of that total pool because ...
Sal Daher: Wow! Well that's not bad, yeah.
H. Stevenson: When you're post revenue, in some ways you don't ... You're not going to lost everything.
Sal Daher: No, no.
H. Stevenson: But one of the interesting ...
Sal Daher: I've had at least one post revenue company that lost everything, because they were so highly leveraged. That's the thing, if they have revenue, there's a temptation to borrow.
H. Stevenson: Yeah, but I think that one of the things about it is, that if you're working with the right people, they are ready to say, "It's not working". Then they turn their task to getting something for the company. Instead of, as some people are, they'll just throw the dice, until they run out of money. Somebody who's nice and curious, is probably going to spend some time saying, "It really isn't working, is there some way we can salvage something for us, and the investors?"
Sal Daher: Yeah, that really is remarkable wisdom.
H. Stevenson: Then some good things happened. Largely that was when somebody else wanted it worse than we did.
Then there's the wows, and there are probably five wows. The one I told you about is by far the biggest one, but there were quite a few that returned 30 to 1.
Sal Daher: Wow.
H. Stevenson: And you say, "What field were you in?" They were all over the lot.
Sal Daher: Wow, so no specialization?
H. Stevenson: No specialization.
Sal Daher: Interesting. I was having a conversation with a young venture capitalist yesterday, who is a part of MIT angels. He says, "I'm very specialized in biotech. Everyone, of these deals I can see all the problems with them, and solve them and so on." And he said, "I don't understand how you can make money, without that level of specialization." The answer for me at least, is that I'm investing much earlier than he is. So, my judgment isn't really based on knowing exactly what the industry is, and so forth. It's much more based on character, and so forth. The sort of thing that you're talking about. That is what makes it possible for you to be investing. If, you're investing early enough. The remarkable thing is that you're investing in post revenue, and you're still making those judgment calls based on character, and making money. Which is tremendous.
H. Stevenson: I think that part of it is that nobody knows the future, no matter how many PhDs you have.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: In the biology field, I've had people present things to me. They say, "This is absolutely unique." And, I walk back to my office, and I get a business plan, that if I just crossed out the names, it would be the same.
Sal Daher: It would be the same, yes.
H. Stevenson: So, my belief that you have a unique upside. Just think, even Uber. How many examples are there of Uber?
Sal Daher: That's right. The ones that failed, there were many of them, and Lyft, which is still extant. But the reality is that, ideas are a dime a dozen, and execution is very, very hard.
H. Stevenson: One of my favorite stories about this is, in 1993 and the personal computer is coming out. We said, "There's got to be a role for this in home accounting."
Sal Daher: Ah.
H. Stevenson: We found a guy from Procter and Gamble, because we knew you'd need marketing.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: They'd written a software. It was good software. It worked fine on the apple. Unfortunately, not on the PC. And, it started literally within a week of Quicken.
Sal Daher: Ah!
H. Stevenson: So, you look and you say if I took two business plans, look at the resumes of the people, I couldn't tell the difference.
Sal Daher: No.
H. Stevenson: One is wallpaper, and the other is a fortune.
Sal Daher: Quicken, they managed to establish a process for developing a product. Which was really, tremendously impressive.
H. Stevenson: That, but I think they may have gotten into Staples slightly before we did.
Sal Daher: That's all part of the product development process.
H. Stevenson: Yep.
Sal Daher: The product is developed enough, that Staples can distribute it. As a matter of fact, I'm trying to think of who it is that I interviewed recently who has the founder of Quicken as his ...
H. Stevenson: Scott Cook?
Sal Daher: Scott Cook, yes is his idol.
H. Stevenson: Mm-hmm (affirmative)
Sal Daher: I think it came out in the podcast.
H. Stevenson: Yeah, a P&G guy. He's not a technology guru.
Sal Daher: Well, he's another P&G guy, because you guys were backing a P&G guy as well.
H. Stevenson: Yes.
Sal Daher: Well I'm in the process of writing ...
H. Stevenson: HBS guy too.
Sal Daher: HBS guy. Well I'm in the process of writing a check right now to P&G, J&J, HBS guy. So, I hope it's going to work out.
H. Stevenson: I can guarantee you won't know until it does.
Sal Daher: I know. That is absolutely true. That is absolutely true.
Howard Stevenson on whether Entrepreneurship Can Be Taught
You've done a lot of research, and given all your business experience. This is a tough question. Do you believe there are certain personality types that are more conducive to entrepreneurship, or can it just be taught to anyone? Bill Aulet, thinks it can be taught.
H. Stevenson: Can I answer no, to both questions?
Sal Daher: Absolutely.
H. Stevenson: Well, in the old days before I started to work in entrepreneurship, there were people who said, "Well, they've studied it carefully and you need ... Being a first born helps, because 44% of the entrepreneurs are first born." Failing to notice that 44% of the population is first born.
There were other deep studies of locusts of control, and other things. It turns out to be nonsense. I don't think that there's a personality type. Because, if you're going to run a cable television company, you could be the wallflower at the accounting convention.
Sal Daher: Right, right.
H. Stevenson: If you're going to run a promotion based ... Look at Steve Jobs' personality. I mean ...
Sal Daher: Absolutely.
H. Stevenson: I can go through Ken Olsen.
Sal Daher: Mm-hmm (affirmative)
Howard Stevenson's Definition of Entrepreneurship
H. Stevenson: You look at the great entrepreneurs, and if you can find a single personality type, I think you've got a flawed test. So, I would reject that. On the other hand, I don't think that you can teach entrepreneurship to anybody. What I always thought we're doing when we're trying to teach entrepreneurship. Is if you take the students who come to Harvard Business School, they're opportunity driven. And, as you may know, I tried to define entrepreneurship as the opportunity beyond the resources you currently control.
Sal Daher: Yes.
Sal Daher: No.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
No, really the problem of information, and the fact that it's broadly disseminated, and people who have local information have an advantage, over someone coming from the outside. That is broadly recognized. I see the point that you're making, that you think that what the academic experience can do, is inspire people with models.
Sal Daher: That have, through cases and so forth. They can get people thinking, "I can do that." Which is a little bit of what I hope to do through this program, with angel investing. Is, to get people saying, "I don't have to be Mark Zuckerberg, to invest as an angel. I can be a guy who has built a business, who's got some experience and so forth. And, I can probably help some young person who's building a business."
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ah, okay.
Sal Daher: Yeah. The ability to learn from other people's experience. It's a lot cheaper than learning from your own experience.
Sal Daher: My first interview with Michael Mark, who's founded several companies as a technology founder. And, he said he had invested in more than 200 startups, and he could think of one business plan that went according to plan, Progress Software. All the other ones necessitated pivots.
Sal Daher: Absolutely.
Sal Daher: That's right.
In your book I think you quote Eisenhower saying, "Planning is everything. Plans are nothing."
Sal Daher: So, going through the process of planning, you develop understanding. Even though things don't work out as you expect, at least you know a little bit about the lay of the land. So that when things change, you can regroup and do an informed approach.
Sal Daher: Ah.
Sal Daher: I've seen a lot of those, yeah.
Sal Daher: In those situations, one trick that I've learned from some of my colleagues in Walnut Ventures is, give them a little time. If they're at the beginning of the race, don't tell them that you're going to invest with them. Give them three months, and then see where they are, in those three months. See how much progress they've made during that time. They've told you everything about where they are now. If, in three months they're still telling you the same things, and they have competition, so that they're not very good at implementation. So, they're not going to get anywhere.
The Best Due Diligence Is Time
Sal Daher: Absolutely.
Sal Daher: No, no it's not. It's not.
How Baupost Got Started and How Investing Wizard Seth Klarman Was Hired
Howard, I'm very curious to hear the story of the founding of Baupost. Hiring of Seth Klarman. For those listeners who do not know of Seth Klarman, think Warren Buffett a quarter century younger.
Sal Daher: Yeah.
Baupost was founded because, Bill Poorvu had sold WCVB, or was selling CVB, and I had worked with him quite a bit. And, Jordan Baruch ...
Sal Daher: Bill Poorvu, fellow professor at the Harvard Business School.
Sal Daher: Who had been owner of the television station, WCVB channel 5, here in Boston.
Sal Daher: A part of it, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Okay, okay.
Sal Daher: Okay.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: You can put it in somewhere.
Sal Daher: At least cash the checks.
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: The industry was not highly developed at that time.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: But what is it that you saw in Seth, that set him apart?
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Absolutely, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: No, no. Mm-hmm (affirmative)
Sal Daher: Yeah.
Sal Daher: Exactly, exactly.
Sal Daher: But the idea of patient investing, of buying things that are deeply underpriced, and holding them until they are, not fully valued, I know you always sold early. But, until other people begin to have an interest in them, that is something that's attracted me to him. Because, it's a lot similar to what my partner and I did in emerging markets. We were always early, buying stuff at incredibly cheap, and selling into the market as it began. People made a lot of money buying stuff off of us. And, the same thing with Seth Klarman. So, how did you detect that? That quality in him.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ah, okay.
Sal Daher: And, given the composition of the investors, the original investors. They were a small number of people, who had a long-term outlook. They had a much healthier attitude towards the market, than a lot of people have today. Because if you're a young, rising fund manager, you live or die by your last results. In your ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: Right.
Sal Daher: That is wonderful. That's something Warren Buffett complains says his secretary pays a higher tax rate than he does.
Sal Daher: In this case, even the secretary is paying a high tax rate.
Sal Daher: A low tax rate, I should say.
Sal Daher: Because, she is benefiting on the ... Or he, in the ...
Sal Daher: That's really laudable. I have great admiration for the firm that you helped put together, and its outcome is really impressive.
Sal Daher: So it's Baruch.
Sal Daher: Auerbach.
Sal Daher: B A
Sal Daher: A U
Sal Daher: And, S T of Stevenson.
I think it happened with a piña colada somewhere on the Caribbean.
How Howard Stevenson Shops for Cars
Sal Daher: Howard, I find the way you shop for cars, particularly instructive. Please elaborate.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yeah, you might overpay a little bit for a car, but your kid will learn.
Sal Daher: That's interesting, my father-in-law used to do that with his children. He used to give them, when they went to college, the money for the whole year. Give them one check and say, "Here, you've got to pay tuition, your cost of living, everything." Of course, he was overseas in Argentina, and they all came here, and it all worked out. But, sometimes it goes wrong. My dad had a cousin, who when he was away at a university, his family sent him money for the year, and he took the money, and he gambled.
Sal Daher: So, he didn't have any money for tuition, or anything like that, and then he was afraid to go back home, when everybody else graduated, because he still hadn't studied.
Sal Daher: Absolutely.
Sal Daher: There are guardrails, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yeah, so they're highly incented to do that. And, it's consonant also with your idea of having the children be brought in early on wealth, brought in early on responsibility for money, and so forth. Which unfortunately nowadays, children really don't have much of a sense of that, of responsibility with money, and so forth. They don't work, they don't make their own money. At least in my experience, children in America work a lot less, than they used to 20, 30 years ago.
Sal Daher: Yes, absolutely.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: That is really beautifully said.
Now what advice would you give a young person about building his or her own wealth?
Howard Stevenson's Advice for How Young People Can Build Wealth
Sal Daher: Ah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: So, you looked towards building assets?
Sal Daher: Instead of building income, necessarily?
Sal Daher: And in time these assets will generate income, but you weren't looking about income today.
Sal Daher: Yes. And, another thing that is mentioned in your book. You emphasize very clearly that a house, is not an asset.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Well yes, if you have been reliably producing 16%, 17% returns every year, it makes sense to borrow at 3% or 4%. That is remarkable. So, I really like that advice. Concentrate on building assets, and think about high income leads to high expenditures. That reminds me of a story of Mitt Romney.
Mitt Romney & a Young Colleague on Spending
Sal Daher: This is after he had had his initial success. He was with Bain Capital already. A young associate got his first bonus check and he went out and he bought a fancy sports car, and he gave Mitt a ride. Mitt was famous for beat up station wagons. Are you familiar with this story?
Sal Daher: I'm not going to ask, who got the higher grade.
Sal Daher: I know, no. But, anyway ... So, the young partner said ... Is driving Mitt around, and Mitt was very impressed, he says "Geez, I wish I could afford a car like this." And the young associate said, "Well, Mitt you're worth hundreds of millions of dollars. You can afford this." And the kid didn't get the sense that Mitt didn't think he could afford the fancy sports car. This young kid with his first bonus check goes out and blows it on a fancy car.
Sal Daher: Yeah, I know. That's the darned thing with Mormons, you can't get them drunk.
But I think it's also what behavior you're modeling for your kids.
Sal Daher: Right.
Sal Daher: That is very wise, very wise.
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Coming up next, we will be shifting to managing your wealth. A matter about which Professor Stevenson has deep experience. However, before we do that, I'd like to take the opportunity to thank listener, SewNow, who left this review on iTunes. "Definitely worth a listen. The series is full of very useful information. It is clear to me that Sal has put a lot of effort into it." SewNow, you have done your part to support the podcast. We bring stellar guests like Professor Howard Stevenson. We come to you free, with no schlocky ads, and professional sound, and you can help by following the example of SewNow, and leaving a review on iTunes. The listenership is growing with every episode, breaking records. It's something like 10% or 15% every month, that they're growing now. That growth combined with more reviews, will eventually cause the iTunes algorithm to start featuring the show. Thus, your review is critical to us. Thanks
"Most of the wealthy people I know, are better at making money than managing it."
Howard, in your book Wealth and Families you state, "Most of the wealthy people I know, are better at making money than managing it." Please take this opportunity to elaborate on taking on the responsibility of managing your wealth.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Howard Stevenson's Journey in Investing Began by Reading Graham, Dodd & Cottle in 1961
Sal Daher: Not a bad start.
Sal Daher: Absolutely, absolutely, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: It is, it is.
Sal Daher: And, taxing because you will inevitably have reverses.
Sal Daher: And people have the attitude that if they ever lose any money, they've failed. But the goal is not to never lose money. The goal is to grow over time.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
"I was smart that I recognized the quality of the people. But, whether it was coming out at 2X or 400X, wasn't in my control."
Sal Daher: Right, right.
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Right, right. That is pretty deep. Very good.
I guess we talked about this a little bit, but could you go a little bit more into hiring the professional help you need, beyond the financial planner and CPA. When someone starts to accumulate significant wealth. Give us some hints. This is well explained in your book, but maybe give some teasers, that will lead people to look in your book for a really well-developed approach to it.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right, right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right. In contrast to the process that you went through when you're setting up your family foundation. The Stevenson Family ...
Sal Daher: Charitable ... No, no, not the trust but the one for managing the funds of the family and ...
Sal Daher: Right, right, but you had quotes from ...
Sal Daher: From various people, and they were just absurdly high. So, you brought your son into it, and then you hire people to do particular chores, and so on and so forth. So, you don't have a lot of high overhead of a normal family office.
Sal Daher: No, no, there's not a lot of overhead.
Sal Daher: It's extremely functional, very functional.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Who's recommending, that's right.
Then if you're trying to go out to the rest of the world, it requires a lot of due diligence. It's probably going to be expensive.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Still you're probably much more involved in the management of your wealth, than most people who are comparably wealthy. Perhaps also, because you know so much more. I think that, that is certainly a great lesson here.
Sal Daher: Yes.
Sal Daher: It is.
Sal Daher: That's right.
Sal Daher: Exactly, exactly.
Sal Daher: Ah. He's not buying the first three years, he's buying 15, 20 years out.
Sal Daher: Right.
Sal Daher: Which most people are not interested ... Oh no, that's ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: Yes. Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right. Now that is a ...
Sal Daher: No, you don't.
Sal Daher: And, consistent growth over time.
Sal Daher: Yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ha.
Sal Daher: Mm-hmm (affirmative) because ...
Sal Daher: Because serving your customer well is what assures continued growth, continued profitability over the long term, and not just the short bursts in the first few years.
Sal Daher: Something's got to float the boat.
Talking to Your Kids About Money
Sal Daher: Yeah. I really like your approach to letting kids know about family wealth and bringing them up early, and so forth. As a matter of fact, I love that little exchange at the HBS that I attended. A gentleman of advanced years, after you explained that you have to let your children know early on said, during the question and answer session, "So how do you think I should tell my children?" And you looked at him and said, "Looking at you, I think it's a little too late."
Sal Daher: I know, it's just ...
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: The imagination.
Sal Daher: Gallops way ahead of reality, yes.
Sal Daher: Yes, yes.
Sal Daher: Yes, yes.
Sal Daher: So, your job is to explain the consequences of the choices they are making. So, that they make decisions in a way that makes sense. And, they can make the tradeoffs. There's nothing in life that's not a tradeoff.
Sal Daher: Right.
Sal Daher: It's a case study method.
Now please explain your thinking behind tracking of your family's total wealth, rather than your own net worth. I found that quite valuable.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes, right, right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes. You care about your whole family, except your Uncle Sam.
Sal Daher: Oh! Listeners, I forgot to tell you. Howard's book has cartoons. Here's one. Dogbert is sitting behind a desk talking to Pointy Hair Boss under the caption, "Dogbert Financial Advisor"
Dogbert: You should invest all your money in diseased livestock.
Dogbert continues: It would be unwise to invest in just one sick cow, but if you aggregate a bunch of them together, the risk goes away.
Dogbert concludes: It's math.
Pointy Hair Boss replies: Suddenly I feel all savvy.
Kindly distinguish between a herd of diseased cows and real diversification.
Sal Daher: Right.
Sal Daher: Yes, yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right, right.
All under written very poorly to a certain sector of the economy. Likely to lose their job and certainly ...
Sal Daher: All at once.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Oh, wow.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Yes.
Sal Daher: Oh, yeah.
Sal Daher: Yeah ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: That's right.
Sal Daher: Yeah, yeah. They're swinging the index now.
Sal Daher: At one point, I remember Apple was 3% of the market cap…
Sal Daher: Of the S&P.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: So, that sets up our last question here.
In your HBS talk, you mentioned starting your professional career when blue chip stocks like, Nabisco sold at four times earnings. Today, cyclically adjusted price earning rations of the S&P 500, is closing in on 30. How does one manage one's money when all investments, not just the S&P 500, but all investments are priced to perfection?
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Yeah, exactly.
Sal Daher: Everything has duration, not just bond, but stock.
Sal Daher: Okay, so cash and structure.
Sal Daher: Howard Stevenson you've been most gracious to have us to your office, and to answer our questions. I'm sure our audience will find your deeply considered advice as valuable as I do.
Sal Daher: It's been great fun, it's been great fun.
I thank our listeners for tuning in, and remind them to please go to iTunes, and leave a review. Listeners with critiques, or suggestions, are welcome to write me at Sal@angelinvestboston.com. I should also mention that we also hold in person events. If, you want to be made aware of those events, please go to Angel Invest Boston, and press the Sign Up button.
This is Angel Invest Boston. Conversation with Boston's most interesting angel investors and founders.
I'm Sal Daher.
I'm glad you were able to join us. Our engineer is Raul Rosa. Our theme was composed by John McKusick. Our Graphic design is by Catherine Woodman-Maynard. Our host is coached by Grace Daher.
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If you want to get rich and to pass money to your kids, listen closely to Howard Stevenson. Here's condensed wisdom from the heart of the investing world delivered with dry humor and charm. Professor Stevenson was a co-founder of storied Baupost Group and helped hire its legendary manager Seth Klarman. He began the study of entrepreneurship at Harvard Business School and eventually became HBS' biggest fundraiser.
His book "Wealth & Families" gives invaluable advice on how to make money and keep enough of it to hand down to the generations. My personal favorite is illustrated by this quote from the interview:
"Whereas, some of my colleagues were going off consulting ... They were making a lot of money every day, and they go their XKE (Jaguar XKE, a coveted sports car of the era) quite quickly. I went off to places like Lima, Ohio, and I was paid $300 a day, but I got 1% of the company."
Howard Stevenson was forgoing high current income, and consumption, for the ability to own promising assets that would build his wealth in the long term. This approach contributed to Professor Stevenson becoming rich enough to need a family office to manage his money.
Podcast Page on iTunes Where You Can Review & Subscribe
This dynamic conversation includes:
Transcript:
Sal Daher: Welcome to Angel Invest Boston. Conversations with Boston's most interesting angel investors and founders. I'm Sal Daher, and my goal for this Podcast, is to learn more about building successful new companies. The best way I can think of doing this is by talking to people who have done it. People such as entrepreneur, angel investor, and scholar of entrepreneurship, Howard Stevenson.
Professor Stevenson, Howard, I'm elated for the opportunity to interview you on this the 29th episode of our podcast. Thanks for hosting us at your offices. In this recording session outside our usual studio. This is what's normally called a remote.
H. Stevenson: Well it's not so remote, it's right in Harvard Square.
Sal Daher: That's right. Not too far away.
Howard Stevenson Bio
Howard Stevenson founded the storied Baupost Group, and is the father of entrepreneurial management, at the Harvard Business School. Howard has served on many boards, and his advice is prized by so many wealthy people. He has written extensively on business and social ventures. He has been generous with his time and treasure, towards philanthropic causes in which he believes. It is said that he has raised more money for Harvard Business School than anyone else. There is now a chair professorship named after him at HBS, in recognition of his outsized achievements.
Starting out as a math major, Howard has had a methodical approach to wealth during his entire career. While he measured assiduously the growth of his net worth, he also paid close attention to choosing work that was satisfying to him, and valuable to others. Informed by fear of the "Velvet Rut" that can trap tenured academics. Howard found his own career trail in several industries. By taking astute long-term bets, he has become wealthy enough to need his own family office, though he does not like the term.
In preparing for this interview, I read his latest book, Wealth and Families: Lessons from My Life Journey. Written with his longtime collaborator Shirley Spence. The book is a remarkable document, in that it grew out of another book. A book that he had written for his family, titled: Howard's Journey: Lessons from the Game of Life. This other book was written to impart his hard-earned lessons to his family. The family book was shared with a few close friends, who urged creation of a public version, which became Wealth and Families. Which, is the book we'll refer to in this conversation.
In concluding my introduction, I'd like to read a beautiful blurb of the book by Howard's colleague, Kenneth A. Fruit of Harvard Business School. "It is hard to fathom, even once you've read it. The compactness of the wisdom and insight Howard Stevenson provides in this short book. His perspective is practical, yet enormously synthetic. Don't be confused by the direct "Oh shucks" tone. The simple folksy-sounding analysis of the complex problem of intergenerational wealth, belies Howard's incorporation, and absorption of much more of the magic of mathematically rigorous laws of compounding and diversification. Sprinkling in a foundational knowledge of the tax code and the law. It's that he has in his own mental frame incorporated a sense of people's humanity, their strengths and weaknesses, their goals and actual accomplishments. Based on successfully watching and doing for all these years. The wisest teachers have all along been life's best and most observant students. Howard and this integrative little book that you and your progeny should share, are just that."
That's really beautifully written.
H. Stevenson: Yes, and I didn't even pay him.
Sal Daher: I know. I know those things are tremendous.
How Howard Stevenson Started His Career
As a service to our younger listeners Howard, I'd like to ask a question about how my massively successful guests got started in their careers. Tell us about the choice that confronted you when you completed your undergraduate in mathematics at Stanford, and what you chose.
H. Stevenson: Well it was fairly easy. I discovered when I was at Stanford, there were people who were smarter than I am, love math more, and worked harder. I decided I didn't want to compete with them.
I had looked at both law school, and business school, and in my great wisdom I discovered law school was three years long. Business school was two, and I chose business school.
Sal Daher: A math major, you could count.
H. Stevenson: I could count. Even on one hand. And, then I discovered that in fact Harvard gave me a bigger scholarship than Stanford for my continuation. End of story on the career that got me into Harvard Business School. Staying on to teach was another decision, which I think is, I've always loved learning, and what better way to learn than to teach. So, I did that for a couple of years, and then played investment banker with a friend on doing deals for small companies. Then I came back to the business school to do ... Well I came back to tell them I wasn't coming back, and they said, "What are you going to do?" And, I said, "Well I'm going to be a VP of Finance of a real estate company."
That meant that they thought that I knew something about real estate. I'd never read a book on the subject. I never had done anything in the field, and they said, "Do you want to teach the course?" And thought, "What better way to learn?" So, I came back to the business school, started a real estate course, or took over one that was sort of moribund. And, did that for five years. I came up for tenure, and I got tenure, and the Dean told me to do something important. So, I left again.
Fear of the "Velvet Rut" Causes Howard Stevenson to Leave a Tenured Position at Harvard Business School
But, part of the motivation of leaving was that I saw a lot of people in this "Velvet-lined Rut'. That it's very easy when you're successful, to keep doing what you're already doing. But, in fact the only way you can get from doing the wrong thing to the right thing, is probably doing the right thing poorly. And, so you have to learn, and I watch people who run the top of little hill, who didn't want to go down in the valley to try something new.
Sal Daher: This is very interesting. Very, very interesting. I wanted to elucidate a little bit, what was meant by the Velvet Rut. You think that academics tend to perhaps specialize a great deal? Become the most knowledgeable in a field, but are afraid to venture out, where they're not as knowledgeable?
H. Stevenson: Or where there're people who won't think they're as knowledgeable. But, I don't think that's restricted to academics.
Sal Daher: Mm-hmm (affirmative)
Howard Stevenson: "A lot of people are fairly miserable in their job, but they fear change more than they look for the optionality that comes in change."
H. Stevenson: A lot of people are fairly miserable in their job, but they fear change more than they look for the optionality that comes in change.
Sal Daher: Ah, yes. The optionality that comes in change.
H. Stevenson: And, we can never predict the results of change.
Sal Daher: No. No.
H. Stevenson: So, for me I said, "Look, I can always get a job." I think the dean, at that point was not interested in what I was doing, which was entrepreneurship and real estate. And I said, "Why do I want to work at some place where they don't value what I'm doing?"
Sal Daher: Mm-hmm (affirmative)
After a Sojourn in Entrepreneurship & Real Estate, Howard Stevenson Was Lured back to HBS
H. Stevenson: That led me to work with a private company. Became VP of Finance of a private company. Helped them raise money. Got some control systems in place. A whole bunch of things. So, I had a lot of learning, but after five years the learning went away and I ... The dean had heard that I was dissatisfied, and came and said, "You want to do something in entrepreneurship?" And this was a new dean, and he was a person I knew and trusted, and so I said, "Yes".
Sal Daher: It's a new direction and a new discipline that challenged you at the time. So, you felt that that did not have the risks of constraining you within this rut.
H. Stevenson: Absolutely not, and beyond that I knew that I could leave again.
Sal Daher: There are not a lot of people that would turn down tenured positions at The Harvard Business School. No, that is impressive.
Sal Daher: "There are not a lot of people that would turn down tenured positions at The Harvard Business School…" Howard Stevenson replies: "That's sad. I'm a trustee at Olin College, and they have no tenure. It's amazing what that does, because people are there voluntarily."
H. Stevenson: That's sad. I'm a trustee at Olin College, and they have no tenure. It's amazing what that does, because people are there voluntarily.
Sal Daher: Yes, yes. That is a remarkable organization.
We're going to talk a little bit now about building wealth. What type of early stage investments have you made, and how have they turned out over time?
Howard Stevenson on Building Wealth: "I've always been experimental, because I don't believe I understand and can predict the future. By the way, when you look that the facts, very few people can."
H. Stevenson: I've always been experimental, because I don't believe I understand and can predict the future. By the way, when you look that the facts, very few people can.
Sal Daher: That's right.
H. Stevenson: We've always tried to invest in places where, in the early stage, I prefer to invest when people have some revenue. Because, it points to the fact that there is somebody that's willing to have a cash-ectomy performed on their wallet.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: We like to be broadly diversified. I'm not trying to guess what's going to be in the next public market.
Sal Daher: You prefer companies that are post-revenue? That are ...
H. Stevenson: Post revenue.
Sal Daher: Earning, okay.
H. Stevenson: And ...
Sal Daher: In a growth stage?
H. Stevenson: In a growth stage, where they need the money to ... If it's in biotech, I prefer something where the scientific risk is out.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: But the market risk is still there. The best investment I ever made was in a company that had a really stupid business plan. But, the people were fantastic.
Sal Daher: Yes.
Howard Stevenson's 400x Investment in a Company with a "Stupid Business Plan"
H. Stevenson: They were in an industry that I thought was very interesting. I thought that what they were doing in that industry made no sense. Over a couple of years, they morphed, and that's probably returned 400 to 1.
Sal Daher: Oh, the 400 to 1 return that everybody's looking for, to pay for the rest of the portfolio.
H. Stevenson: Yes. But ...
Sal Daher: Which company was that?
H. Stevenson: It's a company called Asurion.
Sal Daher: Asurion.
H. Stevenson: And, they are very quiet, I'm still invested.
Sal Daher: Yes.
H. Stevenson: They're doing very well. One of my friends, who's a noted venture capitalist, turned them down because the business plan was too stupid. That's been one of the worst decisions he ever made. Whereas, one of the other venture capitalists that put a little money in, it's the best decision he's made in his life.
Sal Daher: I know, those kinds of investments are few and far between, and when you turn one of those down, it's hard to live it down.
H. Stevenson: You have to live life forward, you can't live with regrets.
Sal Daher: True, true, true, but I think there is some room for learning.
Howard Stevenson's Four Criteria for Investing
H. Stevenson: I think the thing that I've learned is. I have four criteria for investing in companies I know and love. Is the person honest? Because, if they're not honest they'll screw you some way.
Sal Daher: Oh yeah, that goes without saying.
H. Stevenson: Now how do you figure out if they're honest? Well, there're two ways: 1. You know them. Or, 2. One of my favorite questions is, "Tell me about the sharpest deal you ever did?"
And, it's amazing what people will tell you. One guy told me how he cheated the IRS. And you say, "Well if they can send you to jail, and I can't, and you're still willing to do it, I think I know something about your value system."
Sal Daher: That is remarkable, that is remarkable.
H. Stevenson: The second criteria, that I like to use in investing is: Are they nice? By that I mean, are they looking out for somebody other than themselves?
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: I've had experience in start-up or early stage investments, where the entrepreneur takes care of themselves really well, and the early stage investors not so much.
Sal Daher: Left hold the proverbial bag.
H. Stevenson: Well, or holding nothing.
We have one that just went public, and I think compared to my investments, I'll make 10 cents on the dollar, even though the company was successful. And, I went through three or four rounds, and I discovered what the person was.
But, trying to figure out are they nice, that means talking to people that know them. Looking at past decisions. I've had investors ... Or, I've had companies where we lost all the money, and they gave me stock in the next venture they did. Which is a good sign that they are nice people.
Sal Daher: Yeah, that is a nice sign, yeah.
H. Stevenson: The third element is: Are they curious?
Because if you believe that the future is impossible to predict, then anybody who thinks they know the future absolutely, is not looking around the corner. I go back to my example of the best one we ever did. They had a bad plan, but they were curious, and they said, "Where can we serve this group of customers, with a very profitable notion?" And, they found it.
Howard Stevenson's Portfolio Returns; Warren Buffett-Like
And the last is: Are they smart? Because, this is a very complicated field. Now you ask how we've done. We've been doing it for about 25 years, since I sold down some of my position at Baupost, and left active management. I was the president for the first eight years. We probably return 17% or 18%. Probably 12% without the real big winner.
Sal Daher: Mm-hmm (affirmative). So, a little bit ahead of what Baupost has done in the same time?
H. Stevenson: Yes. I guess I look at it, and I say, when I've done the analysis ...
Sal Daher: Probably a lot higher beta.
H. Stevenson: Yeah. It's actually interesting, I've divided things into five categories. Stuff happened, I don't use the word stuff when I'm talking about this.
Sal Daher: Yes. I understand.
H. Stevenson: That was a ... The guy got a pancreatic cancer soon after we invested. The Tanzanian government it over, because it was too profitable, and they wanted their cousin to own it. And, you can go through some, but there weren't a lot of those.
There was the wrong on the bet category.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: It was a good bet, but it didn't work. And, I think in a lot of what we're doing, you've got to differentiate between, is it a good bet, and did it work?
Sal Daher: Yes.
H. Stevenson: Because, on a high variance bet, it's not going to work out all the time. But, one of the things we always try to do is say, "What are we betting on? What are the three or four conditions we're betting on?" And, then sometimes they're not going to work.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: Then there is, we made it safely through. Then there was a few good things happened. If you take the bottom three categories, I think we got about 7% out of that total pool because ...
Sal Daher: Wow! Well that's not bad, yeah.
H. Stevenson: When you're post revenue, in some ways you don't ... You're not going to lost everything.
Sal Daher: No, no.
H. Stevenson: But one of the interesting ...
Sal Daher: I've had at least one post revenue company that lost everything, because they were so highly leveraged. That's the thing, if they have revenue, there's a temptation to borrow.
H. Stevenson: Yeah, but I think that one of the things about it is, that if you're working with the right people, they are ready to say, "It's not working". Then they turn their task to getting something for the company. Instead of, as some people are, they'll just throw the dice, until they run out of money. Somebody who's nice and curious, is probably going to spend some time saying, "It really isn't working, is there some way we can salvage something for us, and the investors?"
Sal Daher: Yeah, that really is remarkable wisdom.
H. Stevenson: Then some good things happened. Largely that was when somebody else wanted it worse than we did.
Then there's the wows, and there are probably five wows. The one I told you about is by far the biggest one, but there were quite a few that returned 30 to 1.
Sal Daher: Wow.
H. Stevenson: And you say, "What field were you in?" They were all over the lot.
Sal Daher: Wow, so no specialization?
H. Stevenson: No specialization.
Sal Daher: Interesting. I was having a conversation with a young venture capitalist yesterday, who is a part of MIT angels. He says, "I'm very specialized in biotech. Everyone, of these deals I can see all the problems with them, and solve them and so on." And he said, "I don't understand how you can make money, without that level of specialization." The answer for me at least, is that I'm investing much earlier than he is. So, my judgment isn't really based on knowing exactly what the industry is, and so forth. It's much more based on character, and so forth. The sort of thing that you're talking about. That is what makes it possible for you to be investing. If, you're investing early enough. The remarkable thing is that you're investing in post revenue, and you're still making those judgment calls based on character, and making money. Which is tremendous.
H. Stevenson: I think that part of it is that nobody knows the future, no matter how many PhDs you have.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: In the biology field, I've had people present things to me. They say, "This is absolutely unique." And, I walk back to my office, and I get a business plan, that if I just crossed out the names, it would be the same.
Sal Daher: It would be the same, yes.
H. Stevenson: So, my belief that you have a unique upside. Just think, even Uber. How many examples are there of Uber?
Sal Daher: That's right. The ones that failed, there were many of them, and Lyft, which is still extant. But the reality is that, ideas are a dime a dozen, and execution is very, very hard.
H. Stevenson: One of my favorite stories about this is, in 1993 and the personal computer is coming out. We said, "There's got to be a role for this in home accounting."
Sal Daher: Ah.
H. Stevenson: We found a guy from Procter and Gamble, because we knew you'd need marketing.
Sal Daher: Mm-hmm (affirmative)
H. Stevenson: They'd written a software. It was good software. It worked fine on the apple. Unfortunately, not on the PC. And, it started literally within a week of Quicken.
Sal Daher: Ah!
H. Stevenson: So, you look and you say if I took two business plans, look at the resumes of the people, I couldn't tell the difference.
Sal Daher: No.
H. Stevenson: One is wallpaper, and the other is a fortune.
Sal Daher: Quicken, they managed to establish a process for developing a product. Which was really, tremendously impressive.
H. Stevenson: That, but I think they may have gotten into Staples slightly before we did.
Sal Daher: That's all part of the product development process.
H. Stevenson: Yep.
Sal Daher: The product is developed enough, that Staples can distribute it. As a matter of fact, I'm trying to think of who it is that I interviewed recently who has the founder of Quicken as his ...
H. Stevenson: Scott Cook?
Sal Daher: Scott Cook, yes is his idol.
H. Stevenson: Mm-hmm (affirmative)
Sal Daher: I think it came out in the podcast.
H. Stevenson: Yeah, a P&G guy. He's not a technology guru.
Sal Daher: Well, he's another P&G guy, because you guys were backing a P&G guy as well.
H. Stevenson: Yes.
Sal Daher: Well I'm in the process of writing ...
H. Stevenson: HBS guy too.
Sal Daher: HBS guy. Well I'm in the process of writing a check right now to P&G, J&J, HBS guy. So, I hope it's going to work out.
H. Stevenson: I can guarantee you won't know until it does.
Sal Daher: I know. That is absolutely true. That is absolutely true.
Howard Stevenson on whether Entrepreneurship Can Be Taught
You've done a lot of research, and given all your business experience. This is a tough question. Do you believe there are certain personality types that are more conducive to entrepreneurship, or can it just be taught to anyone? Bill Aulet, thinks it can be taught.
H. Stevenson: Can I answer no, to both questions?
Sal Daher: Absolutely.
H. Stevenson: Well, in the old days before I started to work in entrepreneurship, there were people who said, "Well, they've studied it carefully and you need ... Being a first born helps, because 44% of the entrepreneurs are first born." Failing to notice that 44% of the population is first born.
There were other deep studies of locusts of control, and other things. It turns out to be nonsense. I don't think that there's a personality type. Because, if you're going to run a cable television company, you could be the wallflower at the accounting convention.
Sal Daher: Right, right.
H. Stevenson: If you're going to run a promotion based ... Look at Steve Jobs' personality. I mean ...
Sal Daher: Absolutely.
H. Stevenson: I can go through Ken Olsen.
Sal Daher: Mm-hmm (affirmative)
Howard Stevenson's Definition of Entrepreneurship
H. Stevenson: You look at the great entrepreneurs, and if you can find a single personality type, I think you've got a flawed test. So, I would reject that. On the other hand, I don't think that you can teach entrepreneurship to anybody. What I always thought we're doing when we're trying to teach entrepreneurship. Is if you take the students who come to Harvard Business School, they're opportunity driven. And, as you may know, I tried to define entrepreneurship as the opportunity beyond the resources you currently control.
Sal Daher: Yes.
Sal Daher: No.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
No, really the problem of information, and the fact that it's broadly disseminated, and people who have local information have an advantage, over someone coming from the outside. That is broadly recognized. I see the point that you're making, that you think that what the academic experience can do, is inspire people with models.
Sal Daher: That have, through cases and so forth. They can get people thinking, "I can do that." Which is a little bit of what I hope to do through this program, with angel investing. Is, to get people saying, "I don't have to be Mark Zuckerberg, to invest as an angel. I can be a guy who has built a business, who's got some experience and so forth. And, I can probably help some young person who's building a business."
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ah, okay.
Sal Daher: Yeah. The ability to learn from other people's experience. It's a lot cheaper than learning from your own experience.
Sal Daher: My first interview with Michael Mark, who's founded several companies as a technology founder. And, he said he had invested in more than 200 startups, and he could think of one business plan that went according to plan, Progress Software. All the other ones necessitated pivots.
Sal Daher: Absolutely.
Sal Daher: That's right.
In your book I think you quote Eisenhower saying, "Planning is everything. Plans are nothing."
Sal Daher: So, going through the process of planning, you develop understanding. Even though things don't work out as you expect, at least you know a little bit about the lay of the land. So that when things change, you can regroup and do an informed approach.
Sal Daher: Ah.
Sal Daher: I've seen a lot of those, yeah.
Sal Daher: In those situations, one trick that I've learned from some of my colleagues in Walnut Ventures is, give them a little time. If they're at the beginning of the race, don't tell them that you're going to invest with them. Give them three months, and then see where they are, in those three months. See how much progress they've made during that time. They've told you everything about where they are now. If, in three months they're still telling you the same things, and they have competition, so that they're not very good at implementation. So, they're not going to get anywhere.
The Best Due Diligence Is Time
Sal Daher: Absolutely.
Sal Daher: No, no it's not. It's not.
How Baupost Got Started and How Investing Wizard Seth Klarman Was Hired
Howard, I'm very curious to hear the story of the founding of Baupost. Hiring of Seth Klarman. For those listeners who do not know of Seth Klarman, think Warren Buffett a quarter century younger.
Sal Daher: Yeah.
Baupost was founded because, Bill Poorvu had sold WCVB, or was selling CVB, and I had worked with him quite a bit. And, Jordan Baruch ...
Sal Daher: Bill Poorvu, fellow professor at the Harvard Business School.
Sal Daher: Who had been owner of the television station, WCVB channel 5, here in Boston.
Sal Daher: A part of it, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Okay, okay.
Sal Daher: Okay.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: You can put it in somewhere.
Sal Daher: At least cash the checks.
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: The industry was not highly developed at that time.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: But what is it that you saw in Seth, that set him apart?
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Absolutely, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: No, no. Mm-hmm (affirmative)
Sal Daher: Yeah.
Sal Daher: Exactly, exactly.
Sal Daher: But the idea of patient investing, of buying things that are deeply underpriced, and holding them until they are, not fully valued, I know you always sold early. But, until other people begin to have an interest in them, that is something that's attracted me to him. Because, it's a lot similar to what my partner and I did in emerging markets. We were always early, buying stuff at incredibly cheap, and selling into the market as it began. People made a lot of money buying stuff off of us. And, the same thing with Seth Klarman. So, how did you detect that? That quality in him.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ah, okay.
Sal Daher: And, given the composition of the investors, the original investors. They were a small number of people, who had a long-term outlook. They had a much healthier attitude towards the market, than a lot of people have today. Because if you're a young, rising fund manager, you live or die by your last results. In your ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: Right.
Sal Daher: That is wonderful. That's something Warren Buffett complains says his secretary pays a higher tax rate than he does.
Sal Daher: In this case, even the secretary is paying a high tax rate.
Sal Daher: A low tax rate, I should say.
Sal Daher: Because, she is benefiting on the ... Or he, in the ...
Sal Daher: That's really laudable. I have great admiration for the firm that you helped put together, and its outcome is really impressive.
Sal Daher: So it's Baruch.
Sal Daher: Auerbach.
Sal Daher: B A
Sal Daher: A U
Sal Daher: And, S T of Stevenson.
I think it happened with a piña colada somewhere on the Caribbean.
How Howard Stevenson Shops for Cars
Sal Daher: Howard, I find the way you shop for cars, particularly instructive. Please elaborate.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yeah, you might overpay a little bit for a car, but your kid will learn.
Sal Daher: That's interesting, my father-in-law used to do that with his children. He used to give them, when they went to college, the money for the whole year. Give them one check and say, "Here, you've got to pay tuition, your cost of living, everything." Of course, he was overseas in Argentina, and they all came here, and it all worked out. But, sometimes it goes wrong. My dad had a cousin, who when he was away at a university, his family sent him money for the year, and he took the money, and he gambled.
Sal Daher: So, he didn't have any money for tuition, or anything like that, and then he was afraid to go back home, when everybody else graduated, because he still hadn't studied.
Sal Daher: Absolutely.
Sal Daher: There are guardrails, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yeah, so they're highly incented to do that. And, it's consonant also with your idea of having the children be brought in early on wealth, brought in early on responsibility for money, and so forth. Which unfortunately nowadays, children really don't have much of a sense of that, of responsibility with money, and so forth. They don't work, they don't make their own money. At least in my experience, children in America work a lot less, than they used to 20, 30 years ago.
Sal Daher: Yes, absolutely.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: That is really beautifully said.
Now what advice would you give a young person about building his or her own wealth?
Howard Stevenson's Advice for How Young People Can Build Wealth
Sal Daher: Ah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: So, you looked towards building assets?
Sal Daher: Instead of building income, necessarily?
Sal Daher: And in time these assets will generate income, but you weren't looking about income today.
Sal Daher: Yes. And, another thing that is mentioned in your book. You emphasize very clearly that a house, is not an asset.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Well yes, if you have been reliably producing 16%, 17% returns every year, it makes sense to borrow at 3% or 4%. That is remarkable. So, I really like that advice. Concentrate on building assets, and think about high income leads to high expenditures. That reminds me of a story of Mitt Romney.
Mitt Romney & a Young Colleague on Spending
Sal Daher: This is after he had had his initial success. He was with Bain Capital already. A young associate got his first bonus check and he went out and he bought a fancy sports car, and he gave Mitt a ride. Mitt was famous for beat up station wagons. Are you familiar with this story?
Sal Daher: I'm not going to ask, who got the higher grade.
Sal Daher: I know, no. But, anyway ... So, the young partner said ... Is driving Mitt around, and Mitt was very impressed, he says "Geez, I wish I could afford a car like this." And the young associate said, "Well, Mitt you're worth hundreds of millions of dollars. You can afford this." And the kid didn't get the sense that Mitt didn't think he could afford the fancy sports car. This young kid with his first bonus check goes out and blows it on a fancy car.
Sal Daher: Yeah, I know. That's the darned thing with Mormons, you can't get them drunk.
But I think it's also what behavior you're modeling for your kids.
Sal Daher: Right.
Sal Daher: That is very wise, very wise.
Why You Should Review this Podcast on iTunes – It Really Helps Us iTunes Page for the Podcast Where You Can Review and Subscribe
Coming up next, we will be shifting to managing your wealth. A matter about which Professor Stevenson has deep experience. However, before we do that, I'd like to take the opportunity to thank listener, SewNow, who left this review on iTunes. "Definitely worth a listen. The series is full of very useful information. It is clear to me that Sal has put a lot of effort into it." SewNow, you have done your part to support the podcast. We bring stellar guests like Professor Howard Stevenson. We come to you free, with no schlocky ads, and professional sound, and you can help by following the example of SewNow, and leaving a review on iTunes. The listenership is growing with every episode, breaking records. It's something like 10% or 15% every month, that they're growing now. That growth combined with more reviews, will eventually cause the iTunes algorithm to start featuring the show. Thus, your review is critical to us. Thanks
"Most of the wealthy people I know, are better at making money than managing it."
Howard, in your book Wealth and Families you state, "Most of the wealthy people I know, are better at making money than managing it." Please take this opportunity to elaborate on taking on the responsibility of managing your wealth.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Howard Stevenson's Journey in Investing Began by Reading Graham, Dodd & Cottle in 1961
Sal Daher: Not a bad start.
Sal Daher: Absolutely, absolutely, yeah.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: It is, it is.
Sal Daher: And, taxing because you will inevitably have reverses.
Sal Daher: And people have the attitude that if they ever lose any money, they've failed. But the goal is not to never lose money. The goal is to grow over time.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
"I was smart that I recognized the quality of the people. But, whether it was coming out at 2X or 400X, wasn't in my control."
Sal Daher: Right, right.
Sal Daher: Right.
Sal Daher: Right.
Sal Daher: Right, right. That is pretty deep. Very good.
I guess we talked about this a little bit, but could you go a little bit more into hiring the professional help you need, beyond the financial planner and CPA. When someone starts to accumulate significant wealth. Give us some hints. This is well explained in your book, but maybe give some teasers, that will lead people to look in your book for a really well-developed approach to it.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right, right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right. In contrast to the process that you went through when you're setting up your family foundation. The Stevenson Family ...
Sal Daher: Charitable ... No, no, not the trust but the one for managing the funds of the family and ...
Sal Daher: Right, right, but you had quotes from ...
Sal Daher: From various people, and they were just absurdly high. So, you brought your son into it, and then you hire people to do particular chores, and so on and so forth. So, you don't have a lot of high overhead of a normal family office.
Sal Daher: No, no, there's not a lot of overhead.
Sal Daher: It's extremely functional, very functional.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Who's recommending, that's right.
Then if you're trying to go out to the rest of the world, it requires a lot of due diligence. It's probably going to be expensive.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Still you're probably much more involved in the management of your wealth, than most people who are comparably wealthy. Perhaps also, because you know so much more. I think that, that is certainly a great lesson here.
Sal Daher: Yes.
Sal Daher: It is.
Sal Daher: That's right.
Sal Daher: Exactly, exactly.
Sal Daher: Ah. He's not buying the first three years, he's buying 15, 20 years out.
Sal Daher: Right.
Sal Daher: Which most people are not interested ... Oh no, that's ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right.
Sal Daher: Yes. Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right. Now that is a ...
Sal Daher: No, you don't.
Sal Daher: And, consistent growth over time.
Sal Daher: Yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Ha.
Sal Daher: Mm-hmm (affirmative) because ...
Sal Daher: Because serving your customer well is what assures continued growth, continued profitability over the long term, and not just the short bursts in the first few years.
Sal Daher: Something's got to float the boat.
Talking to Your Kids About Money
Sal Daher: Yeah. I really like your approach to letting kids know about family wealth and bringing them up early, and so forth. As a matter of fact, I love that little exchange at the HBS that I attended. A gentleman of advanced years, after you explained that you have to let your children know early on said, during the question and answer session, "So how do you think I should tell my children?" And you looked at him and said, "Looking at you, I think it's a little too late."
Sal Daher: I know, it's just ...
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: The imagination.
Sal Daher: Gallops way ahead of reality, yes.
Sal Daher: Yes, yes.
Sal Daher: Yes, yes.
Sal Daher: So, your job is to explain the consequences of the choices they are making. So, that they make decisions in a way that makes sense. And, they can make the tradeoffs. There's nothing in life that's not a tradeoff.
Sal Daher: Right.
Sal Daher: It's a case study method.
Now please explain your thinking behind tracking of your family's total wealth, rather than your own net worth. I found that quite valuable.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes, right, right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes. You care about your whole family, except your Uncle Sam.
Sal Daher: Oh! Listeners, I forgot to tell you. Howard's book has cartoons. Here's one. Dogbert is sitting behind a desk talking to Pointy Hair Boss under the caption, "Dogbert Financial Advisor"
Dogbert: You should invest all your money in diseased livestock.
Dogbert continues: It would be unwise to invest in just one sick cow, but if you aggregate a bunch of them together, the risk goes away.
Dogbert concludes: It's math.
Pointy Hair Boss replies: Suddenly I feel all savvy.
Kindly distinguish between a herd of diseased cows and real diversification.
Sal Daher: Right.
Sal Daher: Yes, yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right, right, right.
All under written very poorly to a certain sector of the economy. Likely to lose their job and certainly ...
Sal Daher: All at once.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Oh, wow.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Yes.
Sal Daher: Oh, yeah.
Sal Daher: Yeah ...
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: That's right.
Sal Daher: Yeah, yeah. They're swinging the index now.
Sal Daher: At one point, I remember Apple was 3% of the market cap…
Sal Daher: Of the S&P.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: So, that sets up our last question here.
In your HBS talk, you mentioned starting your professional career when blue chip stocks like, Nabisco sold at four times earnings. Today, cyclically adjusted price earning rations of the S&P 500, is closing in on 30. How does one manage one's money when all investments, not just the S&P 500, but all investments are priced to perfection?
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Yes.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Mm-hmm (affirmative)
Sal Daher: Right.
Sal Daher: Yeah, exactly.
Sal Daher: Everything has duration, not just bond, but stock.
Sal Daher: Okay, so cash and structure.
Sal Daher: Howard Stevenson you've been most gracious to have us to your office, and to answer our questions. I'm sure our audience will find your deeply considered advice as valuable as I do.
Sal Daher: It's been great fun, it's been great fun.
I thank our listeners for tuning in, and remind them to please go to iTunes, and leave a review. Listeners with critiques, or suggestions, are welcome to write me at Sal@angelinvestboston.com. I should also mention that we also hold in person events. If, you want to be made aware of those events, please go to Angel Invest Boston, and press the Sign Up button.
This is Angel Invest Boston. Conversation with Boston's most interesting angel investors and founders.
I'm Sal Daher.
I'm glad you were able to join us. Our engineer is Raul Rosa. Our theme was composed by John McKusick. Our Graphic design is by Catherine Woodman-Maynard. Our host is coached by Grace Daher.
]]>
Chee-Yeun Chung, a neuroscientist from Korea, was captivated by the idea that cures for neurodegenerative diseases, such as Alzheimer's, Parkinson's and ALS, could be found by doing experiments on yeast cells. Conventional approaches to neurodegenerative diseases had proved problematic. However, an MIT professor, the late Dr. Susan Lindquist, saw a remarkable connection between yeast cells and the human neuron that could offer a solution. This evolutionary conservation, the scientific name for the unlikely connection, might lead to a platform for finding human cures. The promise of quickly evaluating compounds on simple yeast cells opened up the possibility of testing large numbers of potential treatments. Such massive experimentation could not be done with the much more complex human neuron. Chee was thus inspired to become a scientific co-founder of Yumanity Therapeutics, the corporate embodiment of Dr. Lindquist's passionate vision.
With $47 million is Series A money, Yumanity has developed ultra-high throughput methods for testing the ability of large numbers of compounds to improve the functioning of yeast cells purposely afflicted with a certain defect. The defect, protein misfolding, is implicated as a cause of neurodegenerative diseases. Compounds found promising in treating yeast cells are then evaluated in human neurons in which protein misfolding is present. Yumanity has also developed methods to figure out the mechanism of action of these compounds based on yeast genetics and protein network analyses.
The result has been the discovery of promising compounds that might become cures. Yumanity believes that its progress over the past two years will justify a Series B raise. The new money is expected to take the existing compounds to clinical trials.
For more details see annotated transcript at: [link to episode page to be added here]
Topics covered include:
Chee-Yeun Chung, a neuroscientist from Korea, was captivated by the idea that cures for neurodegenerative diseases, such as Alzheimer's, Parkinson's and ALS, could be found by doing experiments on yeast cells. Conventional approaches to neurodegenerative diseases had proved problematic. However, an MIT professor, the late Dr. Susan Lindquist, saw a remarkable connection between yeast cells and the human neuron that could offer a solution. This evolutionary conservation, the scientific name for the unlikely connection, might lead to a platform for finding human cures. The promise of quickly evaluating compounds on simple yeast cells opened up the possibility of testing large numbers of potential treatments. Such massive experimentation could not be done with the much more complex human neuron. Chee was thus inspired to become a scientific co-founder of Yumanity Therapeutics, the corporate embodiment of Dr. Lindquist's passionate vision.
With $47 million is Series A money, Yumanity has developed ultra-high throughput methods for testing the ability of large numbers of compounds to improve the functioning of yeast cells purposely afflicted with a certain defect. The defect, protein misfolding, is implicated as a cause of neurodegenerative diseases. Compounds found promising in treating yeast cells are then evaluated in human neurons in which protein misfolding is present. Yumanity has also developed methods to figure out the mechanism of action of these compounds based on yeast genetics and protein network analyses.
The result has been the discovery of promising compounds that might become cures. Yumanity believes that its progress over the past two years will justify a Series B raise. The new money is expected to take the existing compounds to clinical trials.
For more details see annotated transcript at: [link to episode page to be added here]
Topics covered include:
Quotes:
"Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers."
"So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly.
I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once."
Topics covered include:
Visit our home page:Angel Invest Boston Web Page
Sign up for our live events at: Opt In Link
]]>Quotes:
"Danco, why are you here? You're a marketing guy." And I said that I was here to see Lever Brothers and he goes, "You idiot, you signed up for Lehman Brothers."
"So, I took a leave of absence from school, and Wharton let me make up my remaining credits over the summer, and so I tried doing all three things at the same time. It was a success on paper, I did make the 84 [Olympic] team, I did complete the MBA, I did work at Lehman Brothers, but in truth I was overwhelmed, I did everything badly.
I ended up breaking my heel and didn't compete in Sarajevo. I learned nothing in my last classes at school and I was just lost and floundering my first year on Wall Street. So, there's a pretty obvious lesson there about the need to focus and my inability to multi-task. That's maybe why they say focus on one metric that matters, don't try to do five balls in the air at once."
Topics covered include:
Visit our home page:Angel Invest Boston Web Page
Sign up for our live events at: Opt In Link
]]>This is the story of someone who followed what seems to be an impractical passion but managed to create something that is useful to large numbers of paying customers. Listen to this candid and introspective conversation with a young man who thinks deeply but acts practically. In particular, I liked what he had to say about how founders can prepare their psyche for the arduous journey of building their startup: "It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
Here are the topics covered and some quotes:
This is the story of someone who followed what seems to be an impractical passion but managed to create something that is useful to large numbers of paying customers. Listen to this candid and introspective conversation with a young man who thinks deeply but acts practically. In particular, I liked what he had to say about how founders can prepare their psyche for the arduous journey of building their startup: "It turns out that anything that you accomplish in life actually brings a crush of responsibility, so you really just have to enjoy the journey because there is no magic carpet ride of happiness that comes with any accomplishment."
Here are the topics covered and some quotes:
Here are topics and quotes from the interview:
Here are topics and quotes from the interview:
"Every startup investment is folly, but not every folly should be a startup investment…"
"How can I eliminate the real follies?"
"Banks are dominated by all these rules, and they're extremely risk averse. It's sort of like belt and suspenders, and yet, periodically, their pants fall down."
"Someone who's selling is steeling herself for failure in every phone call…"
Sal Daher got a person who knows him really well, his brother in law Martin Aboitiz, to interview him in this 25th episode of the Angel Invest Boston podcast. The result is a wide-ranging and light-hearted conversation that tells a lot about how Sal sees the world of startups.
BTW, during the podcast Sal refers to the physicist Stephen Hawking as Christopher Hawking. This lapse was occasioned by Sal having spent time with Christopher Lydon (Christopher Lydon's Website) just days prior to recording. Sal's sure neither gentleman takes umbrage from the confusion.
The list of topics includes:
"Every startup investment is folly, but not every folly should be a startup investment…"
"How can I eliminate the real follies?"
"Banks are dominated by all these rules, and they're extremely risk averse. It's sort of like belt and suspenders, and yet, periodically, their pants fall down."
"Someone who's selling is steeling herself for failure in every phone call…"
Sal Daher got a person who knows him really well, his brother in law Martin Aboitiz, to interview him in this 25th episode of the Angel Invest Boston podcast. The result is a wide-ranging and light-hearted conversation that tells a lot about how Sal sees the world of startups.
BTW, during the podcast Sal refers to the physicist Stephen Hawking as Christopher Hawking. This lapse was occasioned by Sal having spent time with Christopher Lydon (Christopher Lydon's Website) just days prior to recording. Sal's sure neither gentleman takes umbrage from the confusion.
The list of topics includes:
Martin Aboitiz asked me to add this to the notes:
"...I do have a regret though, that I did not mention four names during the interview:
In 2013, (I said 2003 in the podcast by mistake) my brother in law Martin Aboitiz sat in my dining room and sketched out this business he planned to start. I thought "majnun" which is Arabic for crazy! How would this guy who had built software companies in Argentina found a startup to help Americans have better access to their healthcare data? But I underestimated his resourcefulness and titanic tenacity. Four years later, Healthjump is at cashflow break even and has 7.5 million patients in its data warehouse. I'm glad because I have some real money riding on Martin's company.
Listen to this lighthearted but informative interview. It was inspired, in part, by an excellent meal shared by the interlocutors the night before which included an outstanding paella (see photo) and some delightful wines. We talked healthcare, pivots, angel investing homeruns and flops and many other matters.
Topics covered include:
Martin Aboitiz asked me to add this to the notes:
"...I do have a regret though, that I did not mention four names during the interview:
Juan Manuel Garcia Carral, my CTO in Intermedia who suggested Healthcare as an industry worthy of application and data integration, Dr. Richard Low of PraxisEMR, who first gave me a picture of the lack of data integration in Healthcare Juan Manuel's suggestion, and my two other founders in Healthjump, Mark Ribeiro (our original CFO) and Shanti Aboitiz who was our Patient Advocate, both have moved on, but were pivotal in getting Healthjump started. Sal's Notes:In 2013, (I said 2003 in the podcast by mistake) my brother in law Martin Aboitiz sat in my dining room and sketched out this business he planned to start. I thought "majnun" which is Arabic for crazy! How would this guy who had built software companies in Argentina found a startup to help Americans have better access to their healthcare data? But I underestimated his resourcefulness and titanic tenacity. Four years later, Healthjump is at cashflow break even and has 7.5 million patients in its data warehouse. I'm glad because I have some real money riding on Martin's company.
Listen to this lighthearted but informative interview. It was inspired, in part, by an excellent meal shared by the interlocutors the night before which included an outstanding paella (see photo) and some delightful wines. We talked healthcare, pivots, angel investing homeruns and flops and many other matters.
Topics covered include:
Topics covered include:
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]]>Topics covered include:
Sign up here to be informed about future episodes: Angel Invest Boston Sign Up Link
]]>He grew up in working-class Chelsea, Massachusetts. At Chelsea High, he received preparation that would allow him to explore the academic delights offered by MIT's curriculum.
Four MIT degrees later he was on the faculty at MIT's Sloan School of Management studying the impact of NASA's research on the economy. From there it was a short hop to founding the study of tech startups. He also co-founded successful companies, including Meditech. His course on entrepreneurship incubated Beijing's Sohu.com and Boston's HubSpot. Ed Roberts was an early investor in both.
The oft-cited result that companies founded by MIT alums generate revenues equivalent to the 10th largest economy in the world is one of the products of his scholarship. He also delves into his work on the optimal composition of founding teams. Among the many topics covered in this bravura interview are:
]]>
He grew up in working-class Chelsea, Massachusetts. At Chelsea High, he received preparation that would allow him to explore the academic delights offered by MIT's curriculum.
Four MIT degrees later he was on the faculty at MIT's Sloan School of Management studying the impact of NASA's research on the economy. From there it was a short hop to founding the study of tech startups. He also co-founded successful companies, including Meditech. His course on entrepreneurship incubated Beijing's Sohu.com and Boston's HubSpot. Ed Roberts was an early investor in both.
The oft-cited result that companies founded by MIT alums generate revenues equivalent to the 10th largest economy in the world is one of the products of his scholarship. He also delves into his work on the optimal composition of founding teams. Among the many topics covered in this bravura interview are:
]]>
Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Angel Invest Boston Sign Up Link
]]>Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Angel Invest Boston Sign Up Link
]]>Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Angel Invest Boston Sign Up Link
]]>Christopher Mirabile and Ham Lord are already familiar to our listeners. Each has been interviewed individually on earlier episodes of the Angel Invest Boston Podcast. In the current episode, the two different personalities interact and give us a glimpse into what drives their working relationship.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Angel Invest Boston Sign Up Link
]]>Ham's early work in computer graphics would eventually lead to innovation in applying 3D imaging to the creation of new molecules. Later he helped build software with applications in medicine, oil & gas exploration and engineering analysis. He even did work that presaged today's drone technology.
After 16 years as a software engineer and entrepreneur, Ham cashed in his chips and began a hugely consequential career as one of Boston's super angel investors. He was the engine behind the relaunch of Launchpad, one of the country's most respected angel groups. In a frank and accessible interview, Ham discusses the workings of this group, talks about companies that excite him and addresses current trends in the ambit of angel investing.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Sign Up Link
]]>Ham's early work in computer graphics would eventually lead to innovation in applying 3D imaging to the creation of new molecules. Later he helped build software with applications in medicine, oil & gas exploration and engineering analysis. He even did work that presaged today's drone technology.
After 16 years as a software engineer and entrepreneur, Ham cashed in his chips and began a hugely consequential career as one of Boston's super angel investors. He was the engine behind the relaunch of Launchpad, one of the country's most respected angel groups. In a frank and accessible interview, Ham discusses the workings of this group, talks about companies that excite him and addresses current trends in the ambit of angel investing.
Topics covered include:
Sign up to be informed of live, in-person events and of new content at: Sign Up Link
]]>Wan Li benefited from high-quality public education at Bronx High School of Science and went on to a perfect grade-point average at MIT. He studied under renowned quant wiz Andrew Lo and was poised for a career on Wall Street but was lured away by the prospect of hands-on responsibility for product features at Microsoft.
After a prodigiously successful stint, during which he was involved in building and marketing Dynamics CRM, MS' fastest-growing product, he went to Harvard Business School. From HBS he was recruited by early-stage VC firm Fairhaven Capital.
The firm, known for its expertise in web security and digital advertising, now sees promise in various applications of artificial intelligence starting with self-driving technology. Wan Li is deeply engaged in bringing on the next generation of winning investments at Fairhaven Capital. Despite a busy professional life, Wan Li Zhu has found time to advise startups and to co-found MIT Angels in Boston. I learned a ton from my conversation with this wise, yet unassuming VC.
Here is a list of some of the topics broached:
Wan Li benefited from high-quality public education at Bronx High School of Science and went on to a perfect grade-point average at MIT. He studied under renowned quant wiz Andrew Lo and was poised for a career on Wall Street but was lured away by the prospect of hands-on responsibility for product features at Microsoft.
After a prodigiously successful stint, during which he was involved in building and marketing Dynamics CRM, MS' fastest-growing product, he went to Harvard Business School. From HBS he was recruited by early-stage VC firm Fairhaven Capital.
The firm, known for its expertise in web security and digital advertising, now sees promise in various applications of artificial intelligence starting with self-driving technology. Wan Li is deeply engaged in bringing on the next generation of winning investments at Fairhaven Capital. Despite a busy professional life, Wan Li Zhu has found time to advise startups and to co-found MIT Angels in Boston. I learned a ton from my conversation with this wise, yet unassuming VC.
Here is a list of some of the topics broached:
The idea came to Matthew when he was working at a large company that produces 50,000 tons of citrus waste per year. His friend Keith thought that he could do something interesting with the citrus rinds so Matthew got the company to fund the research into creating a use for this natural material.
These two young founders display remarkable self-knowledge and reveal discoveries in the art of founding companies that could help other founders, technical or not. It's a valuable conversation that includes the following topics:
The idea came to Matthew when he was working at a large company that produces 50,000 tons of citrus waste per year. His friend Keith thought that he could do something interesting with the citrus rinds so Matthew got the company to fund the research into creating a use for this natural material.
These two young founders display remarkable self-knowledge and reveal discoveries in the art of founding companies that could help other founders, technical or not. It's a valuable conversation that includes the following topics:
This young repeat founder bristles with energy but is also capable of contemplation. He is a growth hacker familiar with the Socratic Dialogue. He is hugely ambitious yet generous with the less fortunate. It was great fun interviewing him and he taught me a bunch of things. Among these were the real value of Techstars to founders and some pointers on growing a customer base.
Here is a list of the topics covered:
This young repeat founder bristles with energy but is also capable of contemplation. He is a growth hacker familiar with the Socratic Dialogue. He is hugely ambitious yet generous with the less fortunate. It was great fun interviewing him and he taught me a bunch of things. Among these were the real value of Techstars to founders and some pointers on growing a customer base.
Here is a list of the topics covered:
Part of Armon's secret is the ability to explain thickly complex ideas in accessible language that does not over simplify. He is that rarest of creatures, a scientist of the first rank that speaks lucidly and acts practically. I am grateful that Armon took time out from curing cancer to share his experiences with us in this inspiring interview.
If you are a scientist thinking of founding a company or an investor thinking of investing in a biotech startup you could learn a lot by listening to this interview with Armon Sharei (as well as the interview with biotech founder & investor Patrick Rivelli Patrick Rivelli Interview). Among the topics covered are:
Part of Armon's secret is the ability to explain thickly complex ideas in accessible language that does not over simplify. He is that rarest of creatures, a scientist of the first rank that speaks lucidly and acts practically. I am grateful that Armon took time out from curing cancer to share his experiences with us in this inspiring interview.
If you are a scientist thinking of founding a company or an investor thinking of investing in a biotech startup you could learn a lot by listening to this interview with Armon Sharei (as well as the interview with biotech founder & investor Patrick Rivelli Patrick Rivelli Interview). Among the topics covered are:
He immigrated to America from Taiwan as a child and grew up on Long Island. David Chang distinguished himself in computer science as an undergrad at Cornell. Later on he attended Harvard Business School after seven years on Wall Street.
Topics covered in this interview include:
He immigrated to America from Taiwan as a child and grew up on Long Island. David Chang distinguished himself in computer science as an undergrad at Cornell. Later on he attended Harvard Business School after seven years on Wall Street.
Topics covered in this interview include:
Jay Batson started out as a land man helping oil and gas explorers secure drilling rights. Computerizing part of his work led to his first startup. This made him realize that he loved technology. He would eventually embody this passion for tech in the founding of two venture-backed companies which brought significant innovation by way of the open source movement.
Here are some of the topics included in this podcast:
Jay Batson started out as a land man helping oil and gas explorers secure drilling rights. Computerizing part of his work led to his first startup. This made him realize that he loved technology. He would eventually embody this passion for tech in the founding of two venture-backed companies which brought significant innovation by way of the open source movement.
Here are some of the topics included in this podcast:
In this lighthearted interview, Arrigo shares some of the valuable wisdom gained in navigating large multinational enterprises across cultures and across disciplines. He offers valuable suggestions for founders of startups seeking to do business with multinational companies. He also provides an appealing model of finding the right balance between following your passions and making concessions to reality.
Topics discussed in this podcast include:
]]>
In this lighthearted interview, Arrigo shares some of the valuable wisdom gained in navigating large multinational enterprises across cultures and across disciplines. He offers valuable suggestions for founders of startups seeking to do business with multinational companies. He also provides an appealing model of finding the right balance between following your passions and making concessions to reality.
Topics discussed in this podcast include:
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Episode Transcript with Subject Headings Available at:
Link to Angel Invest Boston Podcast Episode Pages
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Episode Transcript with Subject Headings Available at:
Link to Angel Invest Boston Podcast Episode Pages
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Among the topics covered were:
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Among the topics covered were:
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Among the topics covered were:
Among the topics covered were:
Here are some quotes from our conversation.
Here are the topics covered during our interview:
Here are some quotes from our conversation.
Here are the topics covered during our interview:
Ed co-founded a company that greatly expanded the Apple II's ability to communicate. The company would eventually pivot to supplying the hardware for early Internet services such as CompuServe and AOL.
This successful trajectory allowed Ed to dedicate his time to building early-stage companies and doing philanthropic work. As a much sought-after angel investor, Ed puts his capital and energy to work on behalf of promising startups. If you are building a software startup, you would be well served to listen to the thoughts Ed expresses in this podcast.
During our conversation Ed Belove made mention of a document written by Alex Schiff, co-founder of Fetchnotes, a company he and I were very interested in. The link to the document can be found here: Link to Lessons Learned from Doing Fetchnotes
Here are some of the topics covered in our conversation:
Ed co-founded a company that greatly expanded the Apple II's ability to communicate. The company would eventually pivot to supplying the hardware for early Internet services such as CompuServe and AOL.
This successful trajectory allowed Ed to dedicate his time to building early-stage companies and doing philanthropic work. As a much sought-after angel investor, Ed puts his capital and energy to work on behalf of promising startups. If you are building a software startup, you would be well served to listen to the thoughts Ed expresses in this podcast.
During our conversation Ed Belove made mention of a document written by Alex Schiff, co-founder of Fetchnotes, a company he and I were very interested in. The link to the document can be found here: Link to Lessons Learned from Doing Fetchnotes
Here are some of the topics covered in our conversation:
In Episode 7 of the Angel Invest Boston Podcast we explored the ideas and traits that made Frank Ferguson a success on so many fronts.
My favorite observation from the conversation with Frank Fergusson neatly encapsulates his homespun recipe for success as an investor:
"You can get sucked in and fall in love with a lot of things, but then you have to ask, "Are these the guys who can actually make it happen?" What are the odds that these guys can keep together, not fight, get over it, be successful, run things correctly, not fall in love with their own things so much that they lose track of the financial realities of the business? Can they sell?"
Below is a listing of some of the topics covered.
Visit Angel Invest Boston Sign Up Form and sign up to be informed of upcoming free, in-person events. A text transcript of this interview is available in the Frank Ferguson page on the Angel Invest Boston Home Page.
]]>In Episode 7 of the Angel Invest Boston Podcast we explored the ideas and traits that made Frank Ferguson a success on so many fronts.
My favorite observation from the conversation with Frank Fergusson neatly encapsulates his homespun recipe for success as an investor:
"You can get sucked in and fall in love with a lot of things, but then you have to ask, "Are these the guys who can actually make it happen?" What are the odds that these guys can keep together, not fight, get over it, be successful, run things correctly, not fall in love with their own things so much that they lose track of the financial realities of the business? Can they sell?"
Below is a listing of some of the topics covered.
Visit Angel Invest Boston Sign Up Form and sign up to be informed of upcoming free, in-person events. A text transcript of this interview is available in the Frank Ferguson page on the Angel Invest Boston Home Page.
]]>I learned a lot from this fun chat with Patrick. I hope it will be entertaining and instructive for you as well.
Note: When Sal talked about biotech booming circa 1996 he actually meant to say the internet. Biotech was still a backwater then.
Topics discussed include:
I learned a lot from this fun chat with Patrick. I hope it will be entertaining and instructive for you as well.
Note: When Sal talked about biotech booming circa 1996 he actually meant to say the internet. Biotech was still a backwater then.
Topics discussed include:
In this chatty and candid episode, Beth Marcus imparts some of the hard-earned lessons that can help an entrepreneur turn a defeat into victory. She recounts the story of the remarkable pivot she executed at Exos which led the company from a rout to a very attractive sale to Microsoft. She provides her views on IP strategy, boards of directors, venture capitalists and hiring.
Among the luminaries that play a role in the conversation are Bob Metcalfe, Ed Roberts and Pierluigi Zappacosta.
]]>In this chatty and candid episode, Beth Marcus imparts some of the hard-earned lessons that can help an entrepreneur turn a defeat into victory. She recounts the story of the remarkable pivot she executed at Exos which led the company from a rout to a very attractive sale to Microsoft. She provides her views on IP strategy, boards of directors, venture capitalists and hiring.
Among the luminaries that play a role in the conversation are Bob Metcalfe, Ed Roberts and Pierluigi Zappacosta.
]]>Sign up at https://www.AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics on this podcast:
Fundraising
Equity Crowdfunding
Angel Investing in New England
Cornell University
Harvard Law School
Baranof Software
Walnut Venture Associates, Boston Harbor Angels, Launchpad, Comparison & Contrast
The Capital Network
Mass Challenge
Connection between Coding & Philosophy
COBOL
BBN, Lotus, Lotus 123, Sun Microsystems
ARPANET
MS Excel
VisiCalc, Bob Frankston
Mitch Kapor
Symantec
UNIX
Oracle
Java
MS-DOS, Notework
LAN, Local Area Network, Ethernet, Bob Metcalfe
EMA, Electronic Messaging Association
Paul Graham, Y Combinator
Michael Mark
Babson College
Christopher Mirabile, Ham Lord
Angel Treaty
Boston vs. Silicon Valley
CIC, Cambridge Innovation Center
Kickstarter, Indiegogo
JOBS Act, Reg CF
WeFunder, Mike Norman
NetCapital, Troupe Jewelery, Kitsy Lane
]]>Sign up at https://www.AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics on this podcast:
Fundraising
Equity Crowdfunding
Angel Investing in New England
Cornell University
Harvard Law School
Baranof Software
Walnut Venture Associates, Boston Harbor Angels, Launchpad, Comparison & Contrast
The Capital Network
Mass Challenge
Connection between Coding & Philosophy
COBOL
BBN, Lotus, Lotus 123, Sun Microsystems
ARPANET
MS Excel
VisiCalc, Bob Frankston
Mitch Kapor
Symantec
UNIX
Oracle
Java
MS-DOS, Notework
LAN, Local Area Network, Ethernet, Bob Metcalfe
EMA, Electronic Messaging Association
Paul Graham, Y Combinator
Michael Mark
Babson College
Christopher Mirabile, Ham Lord
Angel Treaty
Boston vs. Silicon Valley
CIC, Cambridge Innovation Center
Kickstarter, Indiegogo
JOBS Act, Reg CF
WeFunder, Mike Norman
NetCapital, Troupe Jewelery, Kitsy Lane
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston. Do take the time to review us.
Sign up at Angel Invest Boston Signup if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics we touched on:
Success after flunking calculus
IBM
Apple Computers
Kurzweil Learning Systems, Ray Kurzweil
Microsource
KeyFile, Jim Stenzel
Bob Moll, Moll Associates
Arthur D. Little
Meditech, Ed Roberts, Neil Pappalardo
Michael Mark, Interleaf
Steve Watson, Computerland
Visicalc, impact of the first spreadsheet software available on a personal computer
Rent-a-byte
Steve Gaal, TA Associates
Tony Helies
Walnut Venture Associates, Jim Massarelli, Data General
Julian Lange, Visicalc, Software Arts, Babson College
Microsoft Excel, Lotus 123
Eyal Shavit, Software Development Corporation, Underware, Brief, Barry Bycoff, Netegrity
Stefan Mehlhorn, Permessa, Collego, Loop Pay
Jay Singh, Dan Levin, Doron Gan, Tod Loofbourrow, ViralGains
Kendall Tucker, Polis, David Solomont
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston. Do take the time to review us.
Sign up at Angel Invest Boston Signup if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
Topics we touched on:
Success after flunking calculus
IBM
Apple Computers
Kurzweil Learning Systems, Ray Kurzweil
Microsource
KeyFile, Jim Stenzel
Bob Moll, Moll Associates
Arthur D. Little
Meditech, Ed Roberts, Neil Pappalardo
Michael Mark, Interleaf
Steve Watson, Computerland
Visicalc, impact of the first spreadsheet software available on a personal computer
Rent-a-byte
Steve Gaal, TA Associates
Tony Helies
Walnut Venture Associates, Jim Massarelli, Data General
Julian Lange, Visicalc, Software Arts, Babson College
Microsoft Excel, Lotus 123
Eyal Shavit, Software Development Corporation, Underware, Brief, Barry Bycoff, Netegrity
Stefan Mehlhorn, Permessa, Collego, Loop Pay
Jay Singh, Dan Levin, Doron Gan, Tod Loofbourrow, ViralGains
Kendall Tucker, Polis, David Solomont
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston.
Sign up at AngelInvestBoston.com Sign Up if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
In this conversation we touched on:
The best pivots ever!
Need for focus
When to pivot
How frequently business plans work out
Hiring a CEO
Qualities of the founders
Role of luck in startups
I What a board of directors can do for the startup
How Michael got started in entrepreneurship
Pixability
Exos
Loop Pay
Bettina Hein
Beth Marcus
Will Graylin
Progress Software
Interleaf
Netegrity
Underware
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston.
Sign up at AngelInvestBoston.com Sign Up if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter @AngelInvestBOS
In this conversation we touched on:
The best pivots ever!
Need for focus
When to pivot
How frequently business plans work out
Hiring a CEO
Qualities of the founders
Role of luck in startups
I What a board of directors can do for the startup
How Michael got started in entrepreneurship
Pixability
Exos
Loop Pay
Bettina Hein
Beth Marcus
Will Graylin
Progress Software
Interleaf
Netegrity
Underware
]]>Ben Littauer traveled an unlikely path from philosophy to communications technology. He brings to life the exciting turns in his careers as founder and angel investor. In his light-hearted style, Ben provides a thoughtful tour of Boston's angel scene in this episode that ranges over many topics including equity crowdfunding. In particular, he explains what leads founders to make the worst fund-raising mistake of all. The philosopher's clarity of thought and the engineer's practicality are in evidence.
]]>Ben Littauer traveled an unlikely path from philosophy to communications technology. He brings to life the exciting turns in his careers as founder and angel investor. In his light-hearted style, Ben provides a thoughtful tour of Boston's angel scene in this episode that ranges over many topics including equity crowdfunding. In particular, he explains what leads founders to make the worst fund-raising mistake of all. The philosopher's clarity of thought and the engineer's practicality are in evidence.
]]>Ralph Wagner recalls his journey of self-discovery that led from failure in engineering to incandescent success in marketing and sales. The man who could not do calculus or write code excelled at identifying and exploiting opportunities created by computer technology. In this interview one sees that Ralph's captivating personality is firmly ballasted by good sense and common decency. It is made evident how his interest in people was vital to the success of his many ventures.
]]>Ralph Wagner recalls his journey of self-discovery that led from failure in engineering to incandescent success in marketing and sales. The man who could not do calculus or write code excelled at identifying and exploiting opportunities created by computer technology. In this interview one sees that Ralph's captivating personality is firmly ballasted by good sense and common decency. It is made evident how his interest in people was vital to the success of his many ventures.
]]>In our inaugural episode, angel investing prodigy Michael Marks tells fascinating stories that take us from the precocious founding of his first company to his being a highly-prized investor in hundreds of startups today. The narratives are interwoven with entertaining observations of subjects ranging from comedians to co-founders. Some of the most interesting pivots (radical changes of business plan) are elucidated. Michael's dry wit and unassuming manner make his deep wisdom accessible to all of us.
]]>In our inaugural episode, angel investing prodigy Michael Marks tells fascinating stories that take us from the precocious founding of his first company to his being a highly-prized investor in hundreds of startups today. The narratives are interwoven with entertaining observations of subjects ranging from comedians to co-founders. Some of the most interesting pivots (radical changes of business plan) are elucidated. Michael's dry wit and unassuming manner make his deep wisdom accessible to all of us.
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston.
Sign up a AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter (@AngelInvestBOS)
]]>If you liked this episode subscribe in iTunes or Google Play so that new episodes will automatically appear in your player. You can find us by searching for Sal Daher or Angel Invest Boston.
Sign up a AngelInvestBoston.com if you want to be made aware of upcoming in-person events. Obviously, this is of particular interest if you are in Boston or environs.
You can also follow us on Facebook, LinkedIn and on Twitter (@AngelInvestBOS)
]]>