
Sign up to save your podcasts
Or


From Lab to Startup: How Technology Is Changing the Future of Healthcare With Chris Yoo of Xcellerant Ventures
AZ TRT S07 EP16 (298) 9-20/2027
What We Learned This Week A Startup Is More Than an IdeaA great idea is only the starting point.
Investors also look at the founder, team, execution, market, technology and ability to adapt.
Idea → Team → Execution → Business
New Jetstream Fund for the average Investor. Venture Capital Is About De-RiskingEarly-stage investing isn't about eliminating uncertainty.
It's about progressively reducing it.
Research creates information. Information creates validation. Validation reduces risk.
Technology Is Compressing the Timeline of Healthcare InnovationGenomics, sequencing, AI and computing are allowing researchers to perform certain processes dramatically faster and cheaper than in the past.
That creates opportunities to move discoveries from the laboratory toward actual medical applications.
Arizona Has a Growing Technology-to-Enterprise PipelineArizona's technology ecosystem isn't just startups.
It includes:
Universities → Research → IP → Entrepreneurs → Capital → Companies → Commercialization
The universities and research institutions are important pieces of that pipeline.
The Next Healthcare Revolution May Come From DataThe conversation around genomics, eye scans, AI and precision medicine points toward a broader change:
The human body is becoming a source of increasingly usable data.
The opportunity is to turn that data into better diagnosis, more personalized treatment and potentially earlier prevention.
AZ Tech Show Notes — Chris Yoo, Xcellerant Ventures
September 2026
Guest: Chris Yoo, PhD Organization: Xcellerant Ventures
Website: https://www.xcellerantventures.com/
Jetstream Fund: https://www.jvf.vc/
WHY VENTURE CAPITAL? Venture capital is where tomorrow's wealth is created.For decades, venture capital has been among the strongest-performing asset classes for long-term investors.
Invest in Tomorrow's Transformation
Xcellerant Ventures is a venture capital company that invests in technologies that power the future of healthcare by providing solutions that improve quality, efficiency, access, and delivery of care at lowered costs.
We lead with a people first philosophy. When we put our knowledge, power, and experience into people, we empower entrepreneurs to change the world for the better.
Bio
Dr. Chris Yoo is not only a successful entrepreneur; he's an innovative visionary within the healthcare and life science startup ecosystem. With over 25 years of experience, Chris is building companies and the very foundation upon which future breakthroughs are made. Chris accomplishes this through his unique blend of scientific expertise, entrepreneurial acumen, and a deep commitment to fostering collaborative ecosystems.
As a serial entrepreneur, Chris consistently bridges the gap between cutting-edge science and impactful solutions. From co-founding Systems Imagination, a pioneer in AI for drug discovery, to shaping the future of cancer treatment with Systems Oncology, his ventures consistently champion disruptive technologies. Beyond these ventures, Chris' track record speaks volumes. He successfully founded and exited ventures including MedTrust Online, the world's first online cancer doctor community, TransMed Partners, the first boutique consultancy for translational medicine, and LabBook, the pioneering electronic lab notebook. His ability to not only identify these innovations but also shepherd them towards successful application solidifies Chris' position as a leader at the forefront of the bioscience revolution.
Partners:
John Shufeldt, MD, JD, MBA, FACEP
General Partner
· BA, Sociology and Criminology: Drake University
· MD: The Rosalind Franklin School of Medicine & Science
· MBA, JD, & Six Sigma Black Belt: Arizona State University
· Certificate in Entrepreneurism and Innovation: Harvard
· Certificate in AI: Massachusetts Institute of Technology
Douglas (Doug) Sylvester, JD, LLMGeneral Partner
· BA, University of Toronto
· JD, University of Buffalo School of Law
· LLM, New York University School of Law
Michael Shufeldt, MBA
General Partner
· BS, International/Global Studies, University of Arizona
· MBA, Arizona State University
Focus: Technology, healthcare, life sciences, biotech, startups and early-stage investing
Episode OverviewChris Yoo brings a unique perspective to the Arizona technology ecosystem, combining a background in cell biology and healthcare with venture capital and startup investing.
With a PhD in cell biology from Yale, Chris has spent much of his career thinking about fundamental questions in medicine: Why do people get diseases? How can we diagnose them? And how can we develop better treatments?
Today, through Xcellerant Ventures and the Jetstream Fund, he works with founders developing technologies in healthcare, life sciences, biotech and other emerging technology sectors.
A major theme throughout the conversation was de-risking — taking something that is unknown and making it less unknown through research, data, testing, execution and commercialization.
Segment 1 — What Makes a Startup Investable? Startup ≠ Just a Great Idea
A startup begins with an idea, but venture investors aren't simply investing in ideas.
They are evaluating:
Chris emphasized the importance of the founder/funder relationship.
The founder may have the original vision, but the company will evolve considerably as it moves from an idea toward a real business.
Founder vs. IdeaChris is less concerned about whether a company has:
What matters is whether the people involved have clearly defined roles and responsibilities and whether those roles fit their individual strengths.
A startup eventually needs expertise in areas such as:
Those needs change as the company grows.
The Founder's DilemmaOne of the challenges for founders is recognizing that the company changes as it grows.
The person who is perfect for getting a company from zero to one may not necessarily be the person who should manage every function when the company becomes much larger.
The company needs to evolve.
Different Stages Require Different CapitalChris discussed the distinction between different stages of startup funding.
For example:
Pre-seed → Seed → Early Growth → Later Stage
And there is an important distinction between:
Pre-revenue and pre-seed.
A company can be extremely early while still having different levels of valuation, technology development and market evidence.
De-RiskingOne of the most important venture capital concepts from the conversation:
De-risking means making unknowns less unknown.
Investors don't expect every question to be answered at the beginning.
Instead, they want to see progress:
Unknown → Research → Data → Validation → Commercialization
Each stage provides more information and reduces uncertainty.
Segment 2 — From Cell Biology to TechnologyChris's background starts in healthcare and life sciences.
He earned his PhD in Cell Biology from Yale, studying fundamental questions around disease:
That scientific background influences how he approaches startups today.
Think Critically About ProblemsA recurring theme was the importance of thinking critically about the actual problem before jumping to the solution.
Technology creates new possibilities, but the technology still has to solve a meaningful problem.
Technology Has Accelerated HealthcareThe growth of computing, data, genomics and sequencing has dramatically accelerated life-science research.
Processes that once took:
can now sometimes be completed in:
Genomic sequencing is one example.
The cost and speed of sequencing have changed dramatically over the past several decades.
Technology + Life SciencesChris sees enormous potential where technology intersects with biology.
Examples include:
The goal isn't technology for technology's sake.
The goal is ultimately to translate technology into medicine.
From General Treatment to Personalized TreatmentOne of the biggest possibilities is moving toward treatments that are increasingly tailored to the individual patient.
Instead of simply asking:
"What drug treats this disease?"
the question becomes:
"What treatment is most appropriate for this particular patient?"
That shift could fundamentally change medicine.
Segment 3 — Arizona's Technology & Life Sciences EcosystemXcellerant Ventures focuses heavily on Arizona companies, particularly in:
The Xcellerant team brings multiple areas of expertise to the table.
Chris has the scientific background, while partners bring expertise in areas such as medicine and intellectual property.
More Than Just MoneyA venture investor can provide founders with more than capital.
They can bring:
The objective is to help founders move from technology to enterprise.
Arizona's EcosystemChris emphasized that Arizona has a much larger technology and life-sciences ecosystem than many people realize.
Universities and research institutions play an important role.
Organizations and institutions mentioned during the conversation included:
Universities serve as important sources of:
Research → Innovation → Intellectual Property → Companies
An Example: Eye TechnologyChris discussed Mu Medical, a Minnesota company developing a highly precise eye-drop delivery device called the NanoDropper.
The company is led by a medical doctor, Elisa Song, and has a small founding team.
Website: https://www.mumedical.com/
The broader opportunity involves oculomics — using information from the eye to learn more about a person's overall health.
The eye can potentially provide biological information that extends well beyond traditional eye diseases.
Segment 4 — The Eye as a Window Into HealthOne of the most interesting concepts discussed was the growing ability to use eye scans and imaging data to identify patterns associated with broader health conditions.
Think about the progression:
Eye image → Data → Pattern recognition → AI → Diagnosis/Prediction → Treatment/Prevention
The opportunity goes beyond traditional eye conditions such as glaucoma.
Chris compared the growing understanding of eye health with what we've learned about:
The larger idea is that different parts of the body can provide data about the health of the entire system.
Genomics and OculomicsGenomics looks at information contained in our genes.
Oculomics looks at information contained in the eye.
Both represent a broader movement toward using biological data to better understand individual health.
Jetstream Fund — Opening Early-Stage InvestingChris also discussed the Jetstream Fund, which is designed to give investors access to early-stage technology investing with smaller investment amounts.
Traditional venture capital funds generally have:
General Partners (GPs) who manage the fund
and
Limited Partners (LPs) who provide capital.
The Jetstream approach allows investors to participate with smaller checks, potentially around $5,000–$25,000, rather than requiring the much larger commitments often associated with traditional venture capital.
The concept is to bring more investors into the early-stage technology ecosystem.
The broader investment thesis involves finding technology that has already demonstrated meaningful development and helping companies commercialize that technology.
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
- AZ TRT S07 EP15 (297) 9-13-2026
What We Learned This Week Food delivery may be ready for a robotics makeover.
NoTip is testing a model where an EV gets the food close to the customer's home and an autonomous robot completes the final delivery.
The expensive part of a delivery isn't necessarily the food—it's the last mile.Restaurants and consumers can face significant costs from today's delivery model. NoTip is trying to use automation and EVs to change that equation.
Physical AI is moving into the real world.LiDAR, cameras, GPS, sonar and RTK positioning allow robots to understand and navigate physical environments—not just digital ones.
The EV revolution isn't just about cars.Purpose-built electric vehicles can be dramatically smaller and lighter than conventional cars, potentially changing the economics of businesses that operate fleets all day.
The future of autonomous delivery may involve two vehicles—not one.The delivery vehicle gets the order to the neighborhood, while a smaller robot handles the final few yards to the front door. That combination could allow companies to rethink how the entire delivery process works.
Guest: Steve Burns — Founder, NoTip
Stephen S. Burns is a serial entrepreneur and technology executive with more than three decades of experience building disruptive companies across automotive, electric vehicles, telecommunications, and software. He is the founder of Lordstown Motors, where he served as Chairman and CEO, leading the acquisition and transformation of the former General Motors Lordstown Assembly Plant into an electric vehicle manufacturing facility. He also founded Workhorse Group (NASDAQ: WKHS), an early pioneer in commercial electric vehicles and last-mile delivery technology, helping lay the foundation for today's commercial EV market.
Prior to his work in electric mobility, Burns founded Mobile Voice Control, a pioneering speech recognition software company for smartphones that was acquired by Nuance
Communications. Throughout his career, he has successfully founded, scaled, and exited multiple technology ventures, commercializing innovative products that have advanced mobile communications, enterprise software, and transportation technologies. He is widely recognized for identifying emerging technologies and transforming them into industry-leading businesses.
Company: NoTip Location: Mason, Ohio, outside Cincinnati Industry: Autonomous vehicles / Physical AI / Food delivery / EV technology
https://notip.ai/index/home
NoTip is transforming food delivery in Mason, Ohio
NoTip is redefining food delivery in Mason Ohio. We operate as a 3rd party delivery platform. We feature local restaurants on our platform and then use electric vehicles driven by our uniformed team members combined with and our specially designed robots to pick up your food and deliver it to your doorstep.
This approach enables dramatically lower costs, faster service, and greater reliability- while removing common pain points like tipping, hidden fees, food markups, and concerns around strangers on your doorstep.
Simple, Sleek, Easy-To-Use AppOrder your favorite food in seconds with NoTip's powerful, east-to-use app. Order from your favorite local restaurants and track your delivery in real time as our uniformed team member and advanced robotic system brings your food directly to your doorstep. No tipping, no food mark-ups—just seamless, reliable delivery at the tap of a button. Download the NoTip app today and experience the future of food delivery.
Segment 1 — Meet Noah: The Robot Changing Food Delivery
Steve brings significant experience from the electric-vehicle industry.
His background includes work with companies such as:
His experience gives him an understanding of:
Noah combines several technologies to understand its environment.
SensorsThe vehicle and robot use these systems to understand and map their surroundings.
RTK — Real-Time Kinematic PositioningSteve discusses RTK, or Real-Time Kinematic positioning.
The technology can dramatically improve location accuracy and allow the system to map an area with extremely high precision—down to approximately the centimeter level under suitable conditions.
That matters when a robot needs to know:
"Exactly where am I on this property?"
rather than simply:
"I'm somewhere near this address."
A Bigger Robotics TrendCustomers agree to allow the robot onto their property through the NoTip app.
The system can collect information such as:
This creates a defined interaction between the customer and the autonomous delivery system.
What's Next for NoTip?The roads and delivery infrastructure already exist.
Consumers already:
The question becomes:
Can technology make the last mile faster, safer and less expensive?
That's the problem NoTip is trying to solve.
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
AZ TRT 2.0 – Best of Cybersecurity from Business to Government
AZ TRT S07 EP14 (296) 9-6-2026
What We Learned This Week
Clips from past shows focusing on Cybersecurity and threats to both business and Government. .
Seg. 1
Clips from Related Shows:
Cybersecurity, Disruption, Blockchain & Terrorism w Ari Redbord of TRM Labs
- BRT S02 EP31 (78) 8-1-2021
What We Learned This Week
Guest: Ari Redbord, Head of Legal and Government Affairs w/ TRM Labs
https://www.linkedin.com/in/ari-redbord-4054381b4/
https://www.trmlabs.com/post/trm-labs-appoints-ari-redbord-as-head-of-legal-government-affairs
Ari is formerly a US Attorney, and worked in the Treasury Department, now advises the Government on cybersecurity, and Blockchain.
Cybersecurity is a fast growing and extremely important industry for national security, and corporate interests. There are Nation States acting as bad players in the cyber realm and targeting the US Government and US business. We discuss the advancements in technology on cyber crime, blockchain, crypto, and online fraud.
How is the FBI dealing with Ransomware, and other cyber attacks on prime targets like the Colonial Pipeline, or other big corps. What Regulations are coming in banking, and Fintech, with KYC (Know Your Customer), plus the big banks like JP Morgan Chase and Goldman are on board.
What the blockchain ledger can help solve in security, to monitor criminal activity in real time with the help of crypto exchanges like Coinbase. Lastly, what TRM Labs does for clients, how they advise, operate, and who they work with.
Full Show: HERE
Phishing, Malware & Cybersecurity - Try Not to Get Pwned
- BRT S02 EP47 (94) 11-21-2021
What We Learned This Week:
Guests: Vince Matteo, Seven Layer Networks, Inc.
https://sevenlayers.com/
Vince Matteo is a certified penetration tester, a security researcher, and a senior consultant at Seven Layers (.com) where he focuses on securing small businesses. Vince is the author of "Hacking 101 – A Beginner's Guide to Penetration Testing", he's a bug bounty hunter with 17 published critical vulnerabilities, and he's presented talks on offensive hacking at security conferences -- most recently GrrCON in Grand Rapids, MI and BSides in College Station, TX. Outside of work, Vince is an accomplished endurance athlete, an Ironman age group champion, and in his spare time, you can find him in the desert -- training for the next hundred-mile ultramarathon.
Full Show: HERE
Seg. 2
Cybersecurity Response Plan w/ Frank Grimmelmann of ACTRA
- AZ TRT S06 EP03 (264) 2-9-2025
What We Learned This Week
Guest: Frank Grimmelmann
https://www.actraaz.org/actra/leadership
President & CEO/Intelligence Liaison Officer
Mr. Grimmelmann also serves as Co-Chair (together with Arizona's Chief Information Security Officer) for the Arizona Cybersecurity Team ('ACT'), created through the Governor's Executive Order signed in March 2018. He also serves as a Founding Member of the National Leadership Group for the Information Sharing & Analysis Organization Standards Organization ('ISAO SO') at the University of Texas San Antonio (UTSA), created under the President's Executive Order 13691 in February 2015. As ACTRA's leader, Mr. Grimmelmann was invited as the first private sector representative in the Arizona Counter Terrorism Information Center (ACTIC) and served as its first private sector Executive Board representative from 2014-2019. He presently acts as ACTRA's designated private sector liaison to ACTRA's Key Agency and other non-Member Stakeholders.
Full Show: HERE
Seg. 3
Cybersecurity & Compliance w/ Paige Hanson of Secure Labs
- AZ TRT S06 EP15 (277) 8-17-2025
What We Learned This Week:
Guest: Paige Hanson, Co-Founder of Secure Labs
LinkedIn: https://www.linkedin.com/in/hello-paige-hanson
Founder of SecureLabs | Helping businesses meet their security compliance standards | Fractional GRC | 🎤 Keynote, Moderator & Speaker | Identity Theft & Cyber Safety Expert | Volunteer | Wife + Mama
Full Show: HERE
Seg. 4
Cybersecurity, Ransomware, + AI Usage Guardrails
w/ Gary Perkins of CISO Global
- AZ TRT S07 EP01 (284) 1-18-2026
What We Learned This Week:
· Most cyber attacks are preventable Basic controls, training, and awareness can stop the majority of threats.
· Humans are both the weakest link and the strongest defense Ongoing education and awareness turn employees into an effective "human firewall."
· AI will amplify cyber risk — for both attackers and defenders Organizations must adopt AI defensively to keep pace with bad actors.
· Reputation damage often outweighs financial loss Brand trust is hard to rebuild after a breach, even if customers don't immediately leave.
· Cybersecurity is no longer optional or technical-only It's a business risk, a leadership issue, and a shared responsibility across the organization.
Guest: Gary Perkins, Chief Information Security Officer (CISO) of CISO Global
https://www.linkedin.com/in/perkinsgary/
Gary Perkins is the Chief Information Security Officer (CISO) for cybersecurity firm CISO Global. Prior to that he was the CISO for the Government of British Columbia in Canada for 10 years -- responsible for providing cybersecurity services in support of the province and taught undergrad and graduate students at the University of Victoria for years. He has over 25 years' experience in information technology, risk management, and cybersecurity. Prior to joining the BC Government, he worked in the private sector as chief of staff for security at TELUS and, earlier in his career, led teams responsible for incident response, operations, delivery, and architecture for both corporate and managed security services customers. A Certified Information Systems Security Professional (CISSP) since 2004, Perkins also holds an MBA from Simon Fraser University's Management of Technology program.
Full Show: HERE
Biotech Shows: https://brt-show.libsyn.com/category/Biotech-Life+Sciences-Science
AZ Tech Council Shows:
https://brt-show.libsyn.com/size/5/?search=az+tech+council
*Includes Best of AZ Tech Council show from 2/12/2023
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.
AZ TRT 2.0 - AZ Tech Ecosystem: Making the World Better Thru Technology w/ Eric Miller of PADT, Inc.
AZ TRT S07 EP13 (295) 8-23-2026
What We Learned This Week
· A great product doesn't build a great company by itself.
Founders eventually have to build the organization around the product—sales, marketing, finance, HR and people. The founder's job changes as the company scales.
· The 80/20 rule applies to company building.
Figure out what you are uniquely good at, keep strategic functions close, and bring in employees, fractional executives or outside specialists to fill the gaps.
· You don't get the value of a technology community by joining—it comes from showing up.
Eric's experience with the Arizona Technology Council, Venture madness & Arizona Commerce Authority demonstrates that relationships, customers, suppliers and friendships develop through repeated participation.
· Arizona's technology economy is much bigger than semiconductors.
Aerospace, photonics, medical devices, university research, startups and advanced manufacturing are all part of the ecosystem. Universities are particularly important because they help turn research into commercial companies.
· Today's technology was somebody's science fiction yesterday.
Eric's Star Trek story is a great reminder that technologies that once seemed impossible—3D printing, advanced lasers, handheld communications and artificial hearts—can eventually become real-world tools that change people's lives.
Guest: Eric Miller, Principal & Co-Founder PADT, Inc.
LinkedIn: https://www.linkedin.com/in/emillerphx/
https://www.padtinc.com/
Arizona Tech Council – Board Member, premiere org in tech community of AZ
https://www.aztechcouncil.org/
Arizona Commerce Authority – Entrepreneur in Residence, building economy of AZ
https://www.azcommerce.com/
Venture Café – Advisor for startups
https://venturecafephoenix.org/
Venture Madness – Board Member for tech pitch competition
https://venturemadness.com/
Bio:
Business Owner - Engineer - Writer - ANSYS Fan Boy - 3D Printer - Speaker - Podcaster - Angel Investor At PADT "We Make Innovation Work" by helping companies that make physical products by providing them the engineering services and tools they need. Every day I get to work with smart employees, interesting customers, and fantastic vendors. Those are the basic facts, read on to learn more or follow my regular musings in the Phoenix Business Journal The official bio: Eric Miller is a co-owner of Tempe based PADT, Inc., where he is involved in providing tools and services to companies who design and manufacture physical products. He holds a B.S. in Mechanical Engineering from the University of California, Berkeley and has lived in Arizona since 1986. He started his career focusing on the application of Finite Element Analysis (FEA) and Computer Aided Design (CAD) to simulate turbine engine components. Over the years he became recognized as an expert user of the ANSYS software tool and in the development of custom software to automate the product simulation and design process. As a co-founder of PADT in 1994, Eric was able to also pursue his interests in IT, graphic design, additive manufacturing, database programming, and small business management. As both PADT and the use of advanced engineering tools grew, Eric became exposed to dozens of different industries and developed his broad understanding of the application of technology for product development and manufacturing. After over three decades in the industry, Eric is often called upon to write and speak on simulation, design, and 3D Printing as well as on startups and the high-tech sector. His involvement in the startup community includes angel investing as well as mentoring and serving on steering, screening, and advisory boards of a variety of technical organizations and institutions. His current and past "other" jobs are listed under Experience below. In his spare time, Eric enjoys traveling, history, cooking, running (slowly), and learning about new things.
PADT Inc.
A New Company (1994)PADT's founders felt that the tools and skills they used as aerospace engineers to design, analyze, and prototype turbomachinery had applications in other industries. In the summer of 1994, they left their corporate jobs to form Phoenix Analysis and Design Technologies, Inc., better known as PADT.
The first office was a one-person executive suite in Tempe, Arizona, crammed with four people and three computers. From this tiny room, they started calling potential customers. Slowly but surely, work began to come in, and the company was off and running. With the purchase of a 3D Systems SLA250 3D printer at the end of 1994, PADT became the first independent Rapid Prototyping service provider in Arizona.
30 Years and BeyondDoing anything for 30 years is an achievement worth noting. When we approached our 30th anniversary, we were dealing with something we never thought of in 1994, employees were retiring from PADT.
Or 30th year started well with continued growth around simulation. As our long-term partner, Ansys, continues to grow and evolve, so does PADT. The same is true for Flownex, with its adoption across the US, backed by PADT's sales and support team. The team has also met the challenge of changes in the Additive Manufacturing space, upping our offerings around the medical and aerospace industries. Our 4th decade also so the launch of several products designed with customers by our Product Development team.
Since 1994, PADT has grown to become the most respected technology company in the region. By sticking to its core principles and growing its skill and technology base. The company has positioned itself to continue this by providing the best solutions to new and current customers.
Nerdtoberfest - PADT's annual open house.
2026 Event – Wed. Oct. 28 from 4 - 8pm
Technology ecosystems are built by people getting together—not just companies operating independently.
Notes:
AZ Tech Roundtable — Eric Miller, PADT, Inc.Interview: August 2026
Guest / Company Overview Eric Miller & PADTOne of the biggest lessons Eric learned from starting a company is that a good idea and a good product aren't enough.
You also have to build the organization around the product:
The founder has to eventually stop thinking only like the person who created the product and start thinking like the person building the company.
The 80/20 Rule for FoundersEric's advice is to identify the areas where you're strongest and weakest and then determine where your time is best spent.
The founder doesn't have to personally do everything.
Instead:
Know what you need to control and know what you can delegate.
That can mean hiring employees, outsourcing functions or bringing in fractional executives/advisors.
What Should Stay In-House?Eric's basic rule:
If something is strategic or integral to the business, you generally want to keep it in-house.
For PADT, accounting is an example. Eric chose to keep accounting internally because the company's accounting requirements are very specific to the business.
For another technology company, however, outsourcing finance and accounting might make perfect sense.
Fractional TalentEric highlighted the growth of fractional roles.
A company can bring in an experienced person part-time to help with a critical function without taking on the cost of a full-time executive.
This can give a growing company access to:
without requiring a full-time salary.
Hire HR Earlier Than You ThinkEric believes companies should bring in HR expertise relatively early.
Even if HR is initially outsourced, somebody needs to be paying attention to:
People are your company's most important asset.
Eric's own company uses Employers Council for HR support.
Strategic Functions vs. Specialized FunctionsAn interesting distinction from the conversation:
Keep strategic knowledge and decision-making close to the company.
Outsource specialized expertise when it makes sense.
For example, PADT outsources patent work to patent attorneys who often have engineering backgrounds themselves. That gives both sides a common technical language.
Segment 2 — Arizona's Technology Ecosystem PADT's History of Spinning Out CompaniesPADT itself has contributed to the entrepreneurial ecosystem.
Examples discussed:
Salad and Go - Founded by a former PADT employee. Luminosity - An engineering/technology consulting company associated with ASU and founded by former PADT employee Tyler Smith.The larger lesson:
Companies don't just create products. They can create people who go on to create other companies.
PADT has therefore become part of the ecosystem's entrepreneurial "gene pool."
Why Arizona's Tech Community Can Be ConfusingThe conversation broke down several organizations that play different roles in Arizona's technology ecosystem.
Arizona Technology CouncilEric described the Arizona Technology Council as one of the most important organizations in the state's technology ecosystem.
One of Eric's strongest points:
Joining an organization isn't enough.
You have to actually attend the events.
Eric has developed:
- through the Technology Council. He originally joined looking for suppliers and customers but discovered that the broader relationships became just as valuable.
The lesson:
You don't get the value of a business community by becoming a member. You get it by participating.
Unexpected Business RelationshipsEric gave the example of developing a partnership with Tom Sullivan of Air2O through his involvement with the Council.
The broader point is that networking often produces opportunities you weren't specifically looking for.
Technology Council EventsExamples discussed:
The manufacturing event is particularly interesting because Arizona has relatively few traditional manufacturing trade shows despite the state's rapidly expanding manufacturing base.
Segment 3 — Venture Cafe, Venture Madness & the Startup Ecosystem Venture CafeVenture Cafe provides an informal entry point into Arizona's startup and technology community.
Topics can include:
The key idea: you don't need to already be deeply embedded in the startup ecosystem to show up and meet people.
Eric also serves as a mentor.
Other Startup Community OrganizationsThe discussion also referenced Freeway, associated with Danielle Santangelo, as another part of the startup ecosystem.
Venture MadnessVenture Madness was described as Arizona's premier startup pitch event.
The core purpose:
Connect capital with companies that are looking for funding.
Arizona Commerce Authority Public-Private Economic DevelopmentThe Arizona Commerce Authority plays a different role from the Technology Council and startup organizations.
Eric described it as a public-private partnership focused on economic development.
Its mission includes:
Eric serves as an Entrepreneur in Residence.
One major example discussed was the tremendous manufacturing growth in the West Valley, including the arrival and expansion of TSMC.
Arizona Tech WeekThe conversation highlighted the first Arizona Tech Week in spring 2026.
It generated more than 400 events, demonstrating the appetite for technology-related engagement across the state.
Arizona's Manufacturing Boom Aerospace + Semiconductors = Economic EnginesOne of the strongest themes in the interview was the transformation of Arizona's economy through technology-driven manufacturing.
Eric identified two especially important sectors:
SemiconductorsArizona's semiconductor story has deep roots.
The discussion referenced:
The state's semiconductor ecosystem now extends across manufacturing, packaging and supporting technologies.
TSMCThe enormous TSMC investment in the West Valley represents one of the most significant developments in Arizona manufacturing.
AerospaceArizona also has a major aerospace ecosystem involving companies such as:
The state also has missile and aerospace-related activity in Tucson.
Eric's broader point was that aerospace and semiconductors are becoming major economic engines for Arizona.
Segment 4 — Universities as Technology Economic EnginesA major insight from the interview:
The strongest technology ecosystems tend to be built around universities.
Eric compared Arizona with other major technology centers:
The common thread is the presence of major universities and research institutions.
Arizona's Three Major Research Universities University of ArizonaEric's memorable description of Tucson's optics/photonics ecosystem:
"It's all light."
This can encompass:
The universities don't just conduct research.
They can help commercialize research and turn it into businesses.
Examples discussed:
Tech Launch ArizonaAssociated with the University of Arizona and focused on moving university technology toward commercialization.
SkySongASU's technology/business ecosystem in Scottsdale.
These types of organizations help turn:
Research → Technology → Commercial Product → Company
Areas mentioned include:
Eric noted that this university-to-company pipeline is one of the characteristics shared by successful technology ecosystems around the country.
Technology as a Force for Economic GrowthOne of the broader ideas running through the interview:
Technology can be an economic engine for an entire region.
Arizona's combination of:
creates an ecosystem rather than isolated technology companies.
Examples discussed include:
Eric also referenced the Arizona company involved in retrieving a sample from an asteroid as another example of the extraordinary technology being developed in the state.
The Human Side of Technology Star Trek as InspirationOne of the best personal stories from the interview came at the end.
Eric's original inspiration for technology came from Star Trek.
As a kid, he saw technology portrayed as something that could make the world better.
Today, he gets to work with technologies that once seemed like science fiction:
The larger idea:
The future we imagined as kids eventually becomes the technology we build as adults.
Eric's work at PADT allows him to experience some of that firsthand.
Bonus Conversation — Star Trek & BrandingThere was also an interesting side discussion about Star Trek's visual branding.
The uniforms used color coding to communicate roles:
Matt connected this to branding and organizational communication.
The lesson:
Good branding reduces confusion.
When people can immediately understand what something represents, the organization becomes easier to navigate.
This applies not just to logos and colors but to:
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
How to Get a Deal on Shark Tank w/ Tony Gonzales of Slick Barrier - Revisited
AZ TRT S07 EP12 (294) 8-16-2026
What We Learned This Week
Guest: Tony Gonzales – Slick Barrier – Attorney – Shark Tank
https://www.linkedin.com/in/tonygonzalesesq/
https://www.slickbarrier.com/
As Seen On Shark Tank Now available at Bug and Weed Mart Retail Locations! Pro Install Available in Arizona and Nevada! Click Here
LinkedIn: Click Here
YouTube channel: Click Here
Shark Tank / Lori Greiner / Slick Barrier article: Click Here
Shark Tank appearance video: Click Here
Bio Article: Click Here
Notes:
Seg. 1
Partner is Aaron, they met as kids in Santa Fe New Mexico. Aaron created the Slick Barrier product. Tony is an attorney by trade. He was originally brought into the business by Aaron to work on the patent.
They went into business together in 2013 with a company called Aversion. This was the marketing company to sell slack barrier.
Tony worked in real estate business and contract law, and a grad of ASU. He had a general firm in Flagstaff AZ, then moved his office and family to Phoenix. At one point he was also doing criminal law.
Tony is from the southwest, but had not seen any scorpions. Then his 3 year old son was stung by a scorpion in his home in Chandler, AZ. It was a very traumatic experience, with an overnight stay at the hospital.
Tony joined Aaron full time in 2017, they incorporated and by 2018 they were selling, testing, and developing the product.
Seg. 2
When you start the business, you usually operate as a sole proprietor. This is risky as you are personally liable for damages. If you form a partnership with someone, there are other risks, plus you still could be liable.
Form an LLC (corporation), it's fast and easy and can be done online. After you setup the Corp., then register with the state and now you have a legal entity.
Very scary starting a business, you take on risk so you need to know how to protect yourself, and your idea. You're incorporated, and now the business is responsible. This provides you with a legal shield, and it protects your assets (and your family).
Shark Tank
Previously Tony had tried to get on the Trump show, The Apprentice. He got an audition, but nothing further.
Process for the Shark Tank is different. You apply to get on, and any business can apply. If approved, you go through a process which takes months to see if you will actually get on the show.
Tony referenced the book - Third Door by Alex Banayan – about a college student on a quest to meet successful people and learn from them. The main message of the book is to find another way in. Tony found a back door. They produced content about their product Slick Barrier, and sent it to the producers. They were selling their idea to the people who would decide if they get on the show.
The Producers of a show like Shark Tank need to determine, if a company will work well on TV. Is the product and business story good. They also have to consider that any company that comes on the show cannot embarrass the parent company, Disney.
The process for going on Shark Tank is similar to raising capital. The standard capital raise is: you make a pitch, have to have a good story, need to have sales of your product, and be a viable company.
When they were accepted for Shark Tank, they flew to California and filmed the episode. They did not know if it was going to air. Per Tony - 'You're not on Shark Tank until you're on Shark Tank'.
They had applied to be on Shark Tank in May 2022. They were accepted in September 2022, and had 2 weeks to prepare before filming the episode that same month. The episode did not air until January 2023.
All that time, they did not know when, or if the show would air. They also could not tell people that they were on Shark Tank. The people that knew were, Tony, his partner Aaron, and a patent attorney that they took with them for the filming.
Oddly, when they were notified that they were going to be going to California to appear on Shark Tank it was via email that went to spam. Fortunately the Shark Tank Producer called also.
They were notified in early January that the show was going to air and be on Shark Tank. They had 2 weeks to do the PR prep. They had to move fast to do their own PR to get the word out.
Seg. 3
There are lots of rules from Shark Tank on how you can do your PR. They went to a whole bunch of local publications in Arizona and local TV.
They lucked out because, both Nevada New Mexico picked up the story. Tony also appeared in the Arizona Foothills, and The Phoenix Business Journal with a 150K website,
Three partners from New Mexico and some investors legitimize your business.
Did they get a deal with a Shark? Yes, they got a $500K deal with Lori Greiner. Terms were for 15% equity, part cash, part loan.
They had a plan going in, and Lori Greiner was the Shark they wanted. They did their research on Lori. They read her book, and knew what her expectations were for a potential deal. The whole time during the taping of the show they were focused on Lori, being careful to keep eye contact with her.
Now post the deal, they are in the due diligence stage (as of Q1 – 2023).
Tony has a background in law and politics, and now he is in pest control. In the past, pest control was all about pesticides. Now it's about pest management. Stop the pest from getting into the house.
How does the pest get in the house? For example, a spider will roam the grounds near your house, finds a spot to crawl up the house, and eventually find a way in the wall.
What does Slick Barrier do? Slick Barrier is a coating that you put around the house, about 8 inches off the ground. Pests and insects can't climb up the house anymore. It keeps out scorpions, spiders and rodents.
Slick barrier is a non-pesticide physical barrier that is EPA approved. It is not labeled as a pesticide.
Now families do not need to spray pesticides inside their house. It is safe and parent approved. It will not harm your pets or kids. Homebuilders could use it to spray on a new house.
Seg. 4
New home builds often use a Taexx System in the walls. This is a tube system built in the walls, and then pesticides are sprayed in the tubes. This is a pretty good system.
HomeTeam Pest Defense makes the Taexx System - https://pestdefense.com/
Slick barrier is better. You can do annual touchups with Slick Barrier. Then you could spray the backyard and the base of the house with pesticides if you want. You can spray the pesticides on the Slick Barrier area of the coating on the house.
Why Lori Greiner? Lori understands brand new products from her years of selling products on the home shopping channel. She knows how to get them in the hands of consumers. She understands the public.
They trust Lori, she can help. Lori has the contacts, and experience to market these types of products like Slick Barrier.
They also knew that Lori had a past interest in pest control. Mr. Wonderful had stole a deal from her in 2020 (First Saturday Lime – eco-friendly insect repellant - HERE). Tony said this looked like a pretty good product.
PR is very powerful for any business, especially when you know how to tell your story. The Power of the story is what captures customers. Matt actually found Tony as a guest on BRT, through a story on LinkedIn talking about his appearance on Shark Tank.
You start a business to solve a problem. Find your passion business. Why do you believe in your business? What's your story? You need to have a personal connection to the business.
Just telling people my product is better, no one cares. They need to have the experience of your business. Why is your product different from other business? Why is it better?
You need to know how people connect with your product. Show people your passions, and inspire them.
Tony and his partner are working on a Good Scorpions campaign.
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Reinventing the Supply Chain with AI from Rail-to-Road w/ Kevin Damoa of GlidTech
- AZ TRT S07 EP11 (293) 7-26-2026
What We Learned This Week The Biggest Supply Chain Problem Isn't Transportation—It's Handling
Freight often changes hands multiple times before reaching its destination. Every transfer increases cost, delays, and complexity.
America Already Has the InfrastructureRather than building new rail systems, Glid Tech's strategy is to better utilize the thousands of miles of existing railroad infrastructure that are currently underused.
AI Is Becoming a Logistics ManagerEzra 16 doesn't simply route vehicles—it evaluates weather, traffic, rail availability, and fleet positioning simultaneously to determine the most efficient route.
Military Innovation Often Creates Commercial OpportunityThe company's technology originated from solving dangerous military logistics problems before expanding into commercial transportation, continuing a long history of defense-driven innovation.
The Future of Transportation Is IntegrationInstead of choosing between trucks or trains, the future may involve seamless transitions between both, allowing each mode to be used where it performs best.
Guest: Kevin Damoa
LKIN: HERE
Website: https://www.glidtech.us/
Founder and CEO Glīd Technologies
Kevin A. Damoa builds the systems that move what matters. Over two decades, he has carried mobility from the factory floor to the launch pad and onto the battlefield, advancing the hard logistics of rockets, aircraft, electric vehicles, and now autonomous road-to-rail freight. As Founder and CEO of Glīd Technologies, he is building the dual-mode autonomous infrastructure that connects the nation's roads and rails into a single logistics network.
His operating discipline was forged in military service. Damoa enlisted in the US Army at seventeen, served two years in South Korea, and completed two combat tours in Iraq with the 3rd Armored Cavalry Regiment, where he ran railhead logistics in a theater of war. He continued his service in the Air National Guard as a Logistics Officer and firefighter supporting California's Modular Airborne Fire Fighting System mission, retiring in 2018 after twelve years of concurrent service.
Damoa joined SpaceX in 2012 as Flight Module Logistics Manager, where he built the logistics systems and programs behind a maturing launch operation and designed and deployed the transport apparatus that carried rockets from production to the launch site. Following a tour at Northrop Grumman as an Integration Program Manager on the F-35 program, he moved into senior operating leadership across a generation of clean-mobility companies, holding executive roles at Romeo Power, Xos Trucks, Canoo, and Serial 1, a Harley-Davidson brand. In each, he owned the unglamorous work that decides whether a product reaches the market: industrialization, supply chain, manufacturing deployment, and launch.
In 2022, Damoa founded Glīd Technologies to solve a problem the freight system has carried for a century, the broken handoff between road and rail. Glīd designs and builds US-made autonomous dual-mode vehicles and the AI logistics orchestration software that directs them, serving commercial freight and national defense. The company is built on a granted dual-mode road-to-rail patent, is a certified Service-Disabled Veteran-Owned Small Business, and won the 2025 TechCrunch Disrupt Startup Battlefield.
Damoa holds an MS in Mechanical Engineering from Embry-Riddle Aeronautical University and an MBA in Project Management from Keller Graduate School of Management. He leads Glīd as both its CEO and its Architect, a reflection of his conviction that the people who set a company's direction should understand, in detail, how the thing is built.
Notes:
SummaryTechnical logistics and supply chain challenges were discussed along with prototype development and potential military applications. Supply Chain Efficiency Challenges Excessive handling requirements create significant dwell time in global shipping. Current infrastructure heavily relies on road transport due to rail inaccessibility, resulting in massive maintenance costs. Startup Prototypes and Technology The startup developed 4 prototypes featuring human-operated and autonomous vehicles alongside AI orchestration software. This technology utilizes existing rail and road infrastructure to enable seamless transport transitions. Military and Market Outlook Applying rail logistics to defense sectors aims to improve safety for military personnel by reducing reliance on road convoys. Future strategy balances defense and commercial growth across various sectors.
Segment 1
· Definition of Supply Chain Challenges: Kevin Damoa identified that the core problem in the current supply chain is the inefficiency of moving goods due to excessive handling requirements. Noted that 72% of commercial freight is stuck on roads because rail is viewed as inaccessible, while the military faces similar issues, utilizing only 20% of their 44,000 miles of rail infrastructure.
· Company Status and Prototypes: Kevin Damoa confirmed that Glidech is a startup that raised a pre-seed round the previous year and currently has 14 full-time employees. The company has developed four prototypes: two human-operated vehicles named "Glider M" that function on road and rail, and two autonomous vehicles named "Raiden". They also have an AI orchestration software tool called "Ezra 16," which provides transportation management, fleet tracking, and autonomous coordination.
· Supply Chain Inefficiencies and "Touches": Kevin Damoa detailed the complexity of global shipping, describing how goods undergo numerous transfers between boats, "hustler" trucks, cranes, and trains. They explained that this leads to significant "detention time" or "dwell time," where goods sit idle for weeks, often resulting in increased costs and the need for expensive expedited shipping.
· Comparison of Road and Rail Infrastructure: Kevin Damoa highlighted that while trucks are more accessible, they contribute to congestion, pollution, and high road maintenance costs, citing that $105 billion is spent annually in the United States repairing roads damaged by 80,000-pound trucks. Conversely, they argued that rail infrastructure is simpler and cheaper to maintain using small crews, yet rail remains unattractive due to the difficulties in getting freight onto the system.
Segment 2
· GlidTech Solution and Ezra 16 Capabilities: Kevin Damoa described Glidec as a hardware and software company that leverages existing infrastructure rather than creating new fixed systems. The "Ezra 16" software creates a digital twin environment that incorporates weather, road congestion, and rail allocation to determine the most efficient, safe, and cost-effective transport mode for goods. The goal is to facilitate seamless transitions between road and rail, avoiding the necessity of staying exclusively on one mode for the entire journey.
· Origin of GliTech Technology: Kevin Damoa traced the origin of their technology to their personal military experience, specifically a process called "rail heading" while preparing for deployment in Iraq. They described the process as dangerous, slow, and cumbersome, requiring multiple pieces of heavy machinery and many people; Glidec was created to consolidate these steps into a single vehicle and one maneuver.
· Technical Operation of Vehicles: Kevin Damoa explained the mechanics of the Glider M and Raiden vehicles, which feature specialized rail gear, 360-degree cameras, and sensors that use "positive recognition" to identify datums on the track. Once identified, the rail gear deploys, the steering wheel locks, and the vehicle operates on the rail; upon exit, the system triggers a release notification to return to road operation.
· Safety and Integration with Rail Systems: Kevin Damoa noted that their technology patches into existing "positive train control" systems used by railroads. This allows their vehicles to receive time-slot allocations and operate dynamically, such as exiting the track to allow a train to pass before returning to the route.
· Utilization of Infrastructure: Kevin Damoa emphasized that their approach leverages "the best of both worlds" by using road networks to navigate traffic and rail networks for faster transit in less developed or woodsy areas. This strategy utilizes existing, underused tracks rather than requiring the construction of new infrastructure.
· Professional Background of Kevin Damoa: Kevin Damoa detailed their professional history, starting with military service in the Army and the Air Force National Guard, where they participated in firefighting operations. Their corporate background includes managing transportation and recovery operations for the first 17 SpaceX Falcon 9 vehicles, working as an engineer and program manager on the F-35 fighter jet program at Northrop Grumman, and holding roles in e-mobility at Romeo Power, Canoe, XOS Trucks, and Harley-Davidson's Serial 1.
Segment 3
· Historical and Defense Context: Historical overview, noting that President Eisenhower used the Defense Act in the 1950s to develop the US highway system based on models like the German Autobahn. Kevin Damoa discussed how the Department of Defense currently relies heavily on road convoys despite owning 44,000 miles of rail, and noted that they aim to make this existing rail infrastructure more accessible to the military.
· Military Safety and Operational Applications: Kevin Damoa highlighted that enabling rail transport could save soldiers' lives, citing that one out of ten logisticians in the military are casualties during combat supply operations. They further explained that their autonomous Raiden vehicles can operate in austere, desert, or underdeveloped locations, moving containerized supplies, weapons, or drone-manufacturing equipment without risking personnel.
· Future Market Outlook: Looking ahead, Kevin Damoa projected a balanced growth strategy between commercial and defense sectors, noting interest from municipalities, states, countries, and industrial parks. Framed the future of the company around bridging the gap in the logistical workforce and providing a new transport mode, which they branded with the slogan, "Don't ship it, glide it".
Segment 4
Clips from:
Efficiency in the Supply Chain by a New Container Invention
w/ Trevor Pan of BidBird
AZ TRT S04 EP41 (204) 10-15-2023
Things We Learned This Week
Show Link: HERE
**Preview clip of Trevor Pan
Malcolm McLean and the History of the Container
This leads to a new level of capitalism, modern globalization & wider trade
Malcolm Mclean is the inventor of one of the most major inventions in history that affects people daily. He is also not known by many people despite the impact he has had.
McLean owned a trucking company and he used to ship goods via boat. He'd be waiting on the docks with cotton in the 1940s in early 1950s for hours.
Ships would be docked for a month, as men were loading crates by hand. The same system was being done with global trade and sea trade for thousands of years.
Mclean got tired of this, and trying to figure out a solution to the problem like any entrepreneur. Find a need and fill it.
January 1956 - he debuted the box ship. McLean got a $22 million loan & bought 2 World War II tankers and converted them. In April 1956 the first one sailed from New Jersey to Houston. This cut cost from 5.86 per to $.16, a 95% drop or 36 fold savings.
Oct.1957 - the first real containership Gateway city launched. Trip went from New York to Florida to Texas and then on later to Puerto Rico. Per McLean, 'the ship makes money when at sea'.
In 1963, container ports had been created, by 1966 in Europe, 1967 Vietnam had container service, and 1969 Hong Kong and more Southeast Asia.
McLean got a patent which is shared, called – standardization, and the standardize size container for shipping.
He created a company, called Sealand Industries - which was then bought by RJ Reynolds. Eventually they were mergers and oil companies that bought out the line and today it's owned by MAERSK.
Goods are shipped today for pennies on the dollar, all because of McLean's invention. He changed global trade, shipping, oil exploration, and more. It's a multi trillion dollar invention. It also created port cities like Oakland. Every day it affects all sorts of goods and trades finance, big companies like Walmart and Apple.
Not sure if we would have globalization if not for Mclean. At least not as fast.
More Info on Malcolm McLean: HERE
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Predicting the Future: AI, Geopolitics & Better Decision Making
w/ Anthony Vinci of VICO
- AZ TRT S07 EP10 (292) 6-28-2026
What We Learned This Week Think in Probabilities
Great decision-makers don't predict one future.
They prepare for multiple possible futures.
Look for Leading IndicatorsGovernment budgets, regulations, elections, trade policy, and geopolitical developments often signal future trends before markets fully respond.
AI Is Becoming a Strategic AdvisorAI is increasingly functioning as a research assistant, intelligence analyst, and scenario-planning tool—not just a content generator.
Everything Is ConnectedPolitics, economics, technology, energy, and national security influence one another more than ever before.
Understanding those relationships creates a competitive advantage.
Focus on Second-Order EffectsMany investors react to headlines.
The bigger opportunities often lie in anticipating the ripple effects that follow.
AZ TRT Podcast Predictive Forecasting: AI, Geopolitics & Better Decision Making Guest: Anthony Vinci
Links: https://www.linkedin.com/in/anthony-vinci/
https://www.anthonyvinci.com/
https://www.vico.io/
Anthony Vinci is the Founder and CEO of VICO, an AI-powered forecasting company that helps governments, financial institutions, and corporations assess political, geopolitical, and economic event risk. Rather than predicting a single outcome, VICO converts news, expert analysis, and real-world signals into probability-based forecasts to improve decision-making.
Before founding VICO, Anthony served as the first Chief Technology Officer of the National Geospatial-Intelligence Agency (NGA), where he led the integration of artificial intelligence into U.S. intelligence operations. He also held senior leadership roles at Bridgewater Associates and Cerberus Capital Management, focusing on technology, national security, aerospace, and strategic investments.
Anthony is the author of The Fourth Intelligence Revolution, recognized by the Financial Times as one of the Best Books of 2025. His work focuses on the intersection of AI, intelligence, geopolitics, and global finance.
ThemeToday's world moves faster than ever. Political events, wars, technological breakthroughs, trade policy, and artificial intelligence all create ripple effects throughout the economy and financial markets.
The question isn't simply:
"What will happen?"
Instead, it's:
"What are the most likely outcomes, and how should we prepare for them?"
That is the foundation of predictive forecasting.
Segment 1 The World Has Become an Event-Driven EconomyOne of the biggest themes discussed was how major events rarely stay isolated. Instead, they create ripple effects throughout politics, economics, and financial markets.
Examples from 2026 include:
For example, if shipping through the Strait of Hormuz were disrupted, the effects could extend far beyond oil:
One geopolitical event can trigger dozens of second- and third-order consequences.
Narrative EconomicsMarkets increasingly react to information almost instantly.
News travels within seconds through:
Sometimes markets move more from the narrative than from the underlying facts.
The speed of information has increased volatility.
AI as an Intelligence AnalystAI is evolving beyond a simple chatbot.
Examples discussed:
Rather than replacing executives, AI increasingly acts like an executive assistant or intelligence analyst that can evaluate possible outcomes and estimate probabilities.
Segment 2 Forecasting Through Leading IndicatorsOne of Anthony's core ideas is that forecasting begins with identifying early signals rather than reacting after events occur.
Examples include:
Government SpendingWatching federal budgets provides clues about future economic priorities.
For example:
A proposal to increase defense spending from roughly $1 trillion toward $1.5 trillion could benefit industries such as:
Markets often recognize these trends before the spending actually occurs.
ElectionsForecasting elections isn't just about polling.
Leading indicators include:
These become measurable inputs rather than opinions.
Tariffs and TradeTariffs and sanctions affect:
Rather than relying solely on headlines, investors can monitor government announcements and policy developments as early indicators.
VICOAnthony explained that VICO was created to help organizations answer questions like:
"What happens if tariffs increase?"
"What happens if a regional conflict expands?"
"What happens if inflation persists?"
Instead of producing opinions, the platform attempts to quantify probabilities so businesses can make better strategic decisions.
Current users include:
The platform is also available through Bloomberg Terminal.
Segment 3 Thinking Like an Intelligence OfficerAnthony explained that investing and intelligence analysis are surprisingly similar.
Neither profession knows the future with certainty.
Instead, both attempt to improve decision-making through probabilities.
Questions include:
Instead of asking for certainty, professionals ask for better odds.
AI as a Thought PartnerRather than replacing human judgment, AI becomes another analyst at the table.
It helps:
The objective isn't perfect predictions.
It's consistently making better-informed decisions.
Indicators and Warnings (I&W)Government intelligence agencies constantly monitor "Indicators and Warnings."
Examples include:
The same thinking can apply to investors and business owners by identifying leading indicators before markets fully react.
Rare Earth MineralsA fascinating discussion centered on rare earth materials.
These minerals are essential for:
Although called "rare," many are relatively abundant. The challenge is that mining and processing are concentrated in a handful of countries, particularly China.
This explains why governments increasingly view domestic production as a national security issue.
Segment 4 Second- and Third-Order EffectsOne of the strongest concepts discussed was cascading consequences.
Instead of focusing only on one event, ask:
"What happens next?"
Example:
Conflict with Iran↓
Shipping disruptions↓
Higher oil prices↓
Higher transportation costs↓
Inflation↓
Reduced consumer spending↓
Lower corporate earnings↓
Market volatility↓
Political consequences↓
Policy changes
Understanding these chains of events helps improve forecasting.
AI RegulationAI is both part of the opportunity and part of the risk.
Potential future regulations may focus on:
One challenge will be balancing innovation with security while remaining globally competitive.
Anthony noted that governments may have access to AI capabilities that are not immediately available to the private sector, highlighting the strategic importance of advanced AI systems.
Closing Thought
One of the biggest lessons from this conversation is that forecasting isn't about predicting the future with certainty—it's about improving the quality of your decisions. The best investors, business leaders, and intelligence professionals don't rely on opinions alone. They gather data, monitor leading indicators, evaluate multiple scenarios, and assign probabilities to each possible outcome. In an increasingly interconnected world, those who think like forecasters rather than reactors will be better positioned to navigate uncertainty and identify opportunities before the crowd.
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Why Data Centers Are Becoming America's New Industrial Backbone w/ Tom Sullivan of Air2O
- AZ TRT S07 EP09 (291) 6-14-2026
What We Learned This Week
1. AI Is Creating One of the Largest Infrastructure Booms in History
The AI revolution isn't just software. It requires:
The data center buildout may become one of the biggest infrastructure projects ever undertaken.
2. Cooling Technology Is Becoming Just as Important as Computing Power
The future winners in AI may not only be software companies. Engineering and thermal management firms could become critical infrastructure players.
Cooling is no longer an afterthought:
it's now central to AI scalability.
3. Arizona Is Quietly Becoming a Strategic Technology Hub
Arizona's:
Phoenix continues evolving into a major technology corridor.
4. Many Public Narratives Around Data Centers Are Outdated
The perception that modern data centers waste massive amounts of water may no longer reflect reality.
Modern facilities:
The real long-term challenge may actually be:
grid power generation.
5. Nuclear Energy May Return Through AI Demand
AI could accelerate adoption of:
Technology growth may revive public discussions around nuclear power in ways not seen in decades.
Guest: Tom Sullivan, CEO & Co-Founder of Air2o
LinkedIn: https://www.linkedin.com/in/tom-sullivan-491706b4/
Bio:
Tom is a seasoned leader with a diverse background, rooted in military service and later refined in the civilian sector. Commencing his professional journey in 2007 with enlistment in the British Army. Graduating from the Military College of Leadership & Development in Harrogate, he went on to pursue advanced studies in Electrical Engineering at the Military College of Electronic & Aeronautical Engineering.
His operational deployments, spanning both peace and wartime roles, equipped him with invaluable experience. Tom served as a pivotal military liaison to civilian weapons development contractors, specializing in diverse missile platforms, including ground-to-air and ground-to-ground systems.
Recognition for his exceptional service came as he was awarded a Commander's Commendation for his work on a mission-critical system and process development project he led in Afghanistan. Beyond the battlefield, Tom further underlined his pursuit of excellence and commitment to professional development by achieving accreditation by the Institute of Leadership and Management (ILM).
In 2014, Tom brought his wealth of experience to the fledgling startup Air2O, joining the three-person company as the Operations and Project Management Lead. His role evolved, culminating in his appointment as Chief Operating Officer in 2020. In this capacity, Tom led a management team responsible for the development and implementation of foundational processes and routines, encompassing HR, recruitment, retention, IT management, Health and Safety, and Vendor management.
Under Tom's operational guidance, Air2O witnessed substantial growth, expanding from a modest three-person team in 2014 to a multinational workforce of over 100 employees across four countries today. His initiatives included implementing modern Quality Management Systems (QMS) and Project Management (PM) techniques, culminating in the recent ISO 9001 company accreditation with zero non-conformances reported during external assessment.
Website: https://air2o.com/
Air2O is a global leader in advanced thermal management solutions to the mission critical environments of Data Centers, Indoor Agriculture/Cultivation and large Industrial Facilities such as Lithium Battery and Semi-Conductor production globally. With custom build capabilities, a culture of creative engineers and an infrastructure to support the manufacture of the most innovative of solutions, Air2O aims to deliver the most efficient and optimal solutions for our clients globally.
Air2O is an Eren Groupe company, a multi billion organization based in Luxembourg whose mission is to support innovative technological solutions in the fields of renewable energy production, energy conservation and energy storage. Together, we deliver a unique solution for highly efficient, ecologically sound thermal management systems that can be deployed cost-effectively in the most demanding environments.
Our reach spans North America, EMEA, and Asia Pacific, emphasizing custom-engineered solutions prioritizing efficiency and sustainability. We stand proud as Arizona's exclusive low dew point HVACD system manufacturer.
About Air20
Company Focus
"Thermal Management Without Compromise"
Industries served:
Growth Story
Episode Theme
The future of data centers, cooling technology, AI infrastructure, and why Arizona has become a major hub for next-generation digital infrastructure.
Segment 1 — What Data Centers Really Are
Core Concepts
40–50% of the population may live within 5 miles of a data center.
What a Data Center Looks Like
The Biggest Challenge: Heat
roughly 30% of a data center's electricity usage.
Evolution of Cooling
Traditional Cooling
Modern Efficiency
Immersion Cooling
Direct-to-Chip Cooling
Segment 2 — The AI Infrastructure Boom
Why Cooling Matters More Now
AI workloads require:
Cooling Technology Timeline
Historic Infrastructure Buildout
Tom discussed the scale of current infrastructure spending:
$7 trillion
Comparisons:
Who Is Investing?
Major technology companies are driving this expansion:
Investment areas include:
Air20 Company Background
Origins
Founder Background
Company Growth
Current Capabilities
Air20 now handles:
Cooling systems can range from:
Private Equity
Segment 3 — Why Arizona Became a Data Center Hub
Arizona Advantages
Tom explained why Arizona attracts major data center investment:
Business Climate
Geography
Climate
Debunking the "Water Usage" Myth
A major discussion centered around misconceptions about data centers and water consumption.
Historical Cooling
Older evaporative cooling systems:
Modern Systems
Current systems:
Closed Loop Cooling
Modern cooling systems circulate water through:
This minimizes water loss.
Bigger Water Users
Tom pointed out:
Massive Power Consumption
Data centers now operate at unprecedented scale.
Power progression:
One comparison:
A large data center can equal the energy usage of 833,000 homes.
Future Energy Solutions
Potential future solution:
Small Modular Reactors (SMRs)
Potential advantages:
Segment 4 — Nuclear Energy & The Future
Nuclear Energy Perception
Tom discussed how technology industries often face negative PR cycles.
Modern Nuclear Technology
According to Tom:
Small Modular Reactors (SMRs)
SMRs are now:
Benefits:
Key Point
"The water usage myth is dead."
Larger Theme
Modern society increasingly depends on:
The challenge is no longer whether we need data centers. The challenge is:
how to power and cool them efficiently.
Tech Topic:
https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science
Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Flat-Fee Legal Services & the Rise of Fractional General Counsel w/ Ryan Hurley of Litix Legal
- AZ TRT S07 EP08 (290) 5-28-2026
Things We Learned This Week Small businesses still need sophisticated legal strategy
Even companies with only 5–10 employees need governance, operating agreements, cap tables, and employment structures built correctly from day one.
The traditional legal billing model is under pressureHourly billing and massive retainers are frustrating both client & attorneys. Flat-fee legal services are emerging as a more predictable alternative.
Arizona is becoming a legal innovation hubArizona's ABS laws now allow non-attorney ownership & outside investment. This could fundamentally reshape how legal services operate.
AI will likely compress legal fees across the industryAI is helping firms automate admin, documents and research. That efficiency may lower costs for clients and increase competitive pressure on traditional firms.
AI legal tools still need human oversightPlatforms like Legalzoom can help with basic setup work, but founders still need experienced legal counsel for fundraising, equity structure, governance, and long-term growth decisions.
Guest: Ryan Hurley, CEO - Principal Attorney & Co-Founder, Litix Legal
Website: https://www.litixlegal.com/
Certified Attorney | Strategic Business Guidance | Startup Representation | Compliance & Risk Mitigation | HR Oversight | Contract Negotiation | Equity & Debt Raises | Joint Ventures | Mergers & Acquisitions | Board Governance | Investor Relations | Government & Media relations
An experienced attorney with 20 years, Ryan Hurley is CEO and co-founder of Litix Legal, a new kind of law firm on a mission to make clients love their lawyers and lawyers love their law firm by replacing the outdated hourly billing model with flat fees whenever possible.
Hurley previously served as general counsel for Copperstate Farms, a vertically integrated cannabis company with 9 dispensaries under the Sol Flower brand name and one of the largest greenhouse cannabis production facilities in North America. Hurley was an instrumental player in Copperstate Farms' birth, growth, and development, positioning the company as a market leader through his strategic business advice, careful compliance and risk mitigation.
Referred to as Arizona's "Father of Cannabis Law," Hurley has been recognized as one of the Top 100 Lawyers in Arizona and as one of the 20 Names to Know by Phoenix Business Journal. He has been a part of the Arizona cannabis industry from its inception and played a pivotal role in the initiatives to legalize medical and adult-use cannabis in Arizona. A founding member and former board member of the National Cannabis Industry Association, Hurley is deeply entrenched in all aspects of the cannabis industry and a sought-after expert on cannabis policy. Ryan Hurley was also a founding member of the Arizona Dispensaries Association and the organization's former vice president. Hurley was also a pioneer in the AZ solar energy and cryptocurrency/blockchain industries.
A dedicated, passionate, and knowledgeable attorney, innovator, and entrepreneur, Hurley has presented at several conferences and seminars throughout the country and has been featured in many interviews in television, print, and radio. His expansive background in policy has cemented his reputation as a reliable thought leader.
Hurley holds a B.S. in environmental science from the University of Arizona and a J.D. from the University of Arizona's James E. Rogers College of Law. Before emerging as a leader in the cannabis industry and co-founding Litix, Hurley was an associate attorney at Lewis and Roca LLP focusing on land use, zoning, water, and environmental issues and a named partner at Rose Law Group.
Podcast Notes Guest: Ryan Hurley Company: Litix Legal Episode Theme:
How Arizona's new legal business model, flat-fee legal services, and AI are reshaping legal support for startups and small businesses.
Episode Notes Episode OverviewLitix Legal was formed in 2025 using Arizona's new "alternative business structure" (ABS) law, which allows non-attorneys to own equity in law firms.
The firm is focused on:
Their mission is to modernize legal services through:
The firm does not handle:
Many startups and smaller businesses are:
Most companies still need:
Ryan discussed how founders preparing for:
need legal partners who understand:
Important startup legal topics include:
A poorly structured company early on can create major issues later.
"An ounce of prevention is worth a pound of pain later."
Traditional legal billing frustrates startupsTraditional law firms often:
Litix Legal is attempting to solve this with:
Example package:
The model functions similarly to:
Ryan has:
That cannabis company reportedly grew to:
Ryan explained how many attorneys dislike the traditional billable-hour system.
Large firms often require:
According to Ryan:
Arizona changed legal industry rules through ABS reform.
Historically:
The new Arizona model allows:
Example: Ryan's COO/cofounder has a technology background and is not an attorney.
Other regions experimenting with similar models:
Ryan noted that some traditional firms oppose these changes because:
States like:
have reportedly pushed back on similar reforms.
Segment 3 — AI and the Future of Legal Services AI is changing law firm economicsAI and automation tools are helping firms:
Ryan believes AI will contribute to:
Ryan noted that:
can help with:
However:
The concern is:
Litix Legal positions itself as:
Monthly plans reportedly range from:
The firm says early client feedback has been strong.
Legal Shows:
https://brt-show.libsyn.com/category/Legal-Asset+Protection-Estate+Planning
Investing Shows:
https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement
'Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT
Thanks for Listening.
Please Subscribe to the AZ TRT Podcast.
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.
High Growth, Higher Risk: The Business of Cannabis w/ Melissa Diaz of Highrock Accounting
- AZ TRT S07 EP07 (289) 4-12-2026
What We Learned This Week Cannabis Companies Are Taxed on Gross Margin
Because of 280E, they can't deduct ordinary business expenses — creating massive tax burdens.
Federal Classification Drives EverythingSchedule I status impacts taxation, banking, regulation, and investor appetite.
Many Companies Are Playing Legal OffenseSome are challenging 280E aggressively, treating unpaid taxes as a strategic risk.
Licensing Structure Determines SuccessLimited-license states create stronger economics. Unlimited states create margin compression.
Consolidation Is ComingStronger, vertically integrated, mid-sized operators are likely to dominate by 2026.
Guest: Melissa Diaz
https://www.highrock.co/
https://www.linkedin.com/in/melissa-k-diaz-cpa-10215623/
Melissa Diaz is a powerhouse at the intersection of accounting, strategy, and tech. As Co-Owner and CRO of High Rock Accounting (and co-founder of Rebel Rock PC, now High Rock), she leads with precision on everything from cash flow and budgeting to due diligence and audit readiness. At High Rock she helps businesses harness cutting-edge technology to make smarter, faster, fully compliant financial decisions both day-to-day and long-term.
With an expertise in Cannabis and the Technology industry, Melissa's mission is clear: empower businesses to stay competitive, compliant, and efficient in high-pressure, high-growth environments. Whether she's solving complex reporting challenges or decoding 280E, Melissa brings charisma, clarity, and confidence to the table every time.
🎙 Podcast Notes
Guest: Melissa DiazTopic: The Legal, Tax & Business Reality of the Cannabis Industry
Segment 1: The Federal Tax Problem (280E) The Core Issue: Federal ClassificationThe cannabis industry's biggest challenge isn't demand — it's federal law.
Cannabis is still classified as a Schedule I controlled substance, meaning:
· No accepted medical use (federally)
· Same category as cocaine and methamphetamine
Other classifications:
· Schedule II – Highly controlled with medical use (e.g., oxycodone)
· Schedule III – Lower control (e.g., Tylenol with codeine)
· Over-the-counter drugs are not controlled substances.
Why This Matters: Section 280EUnder Internal Revenue Code 280E:
· Cannabis businesses can only deduct Cost of Goods Sold (COGS).
· They cannot deduct normal operating expenses.
· This means they are effectively taxed on gross margin, not net income.
Result:
· Extremely high effective tax rates.
· Cash flow pressure.
· Structural workarounds.
Industry WorkaroundsTo manage tax exposure, many cannabis companies:
1. Use Cost Segregation
o Categorize as many expenses as possible under COGS.
o Rarely challenged aggressively.
2. Create Management Companies
o A separate affiliated entity handles:
§ Admin
§ Marketing
§ HR
§ Operations
o Charges a management fee to the cannabis entity.
o Helps shift deductible expenses outside 280E limitations.
Possible Federal ReschedulingIf cannabis moves to Schedule III:
· Businesses could deduct ordinary expenses.
· Massive financial impact.
· Immediate improvement in profitability.
Segment 2: Legal Challenges & Risk The Harborside Case· Legal challenge against 280E application.
· Many companies have followed similar strategies using management entities.
· Ongoing uncertainty.
Executive Order & Medical Cannabis· Medical cannabis revenue represents 10–15% of total revenue.
· 38 states allow legal medical or recreational cannabis.
· Federal inconsistency remains.
Protective FilingsIf companies owe significant taxes (e.g., $10K+ unpaid liabilities):
· Protective filings can preserve rights.
· Strategic legal positioning matters.
Big QuestionIf the IRS loses major 280E challenges:
· Could owe interest refunds to companies.
· Significant fiscal impact.
But there's always:
· Litigation risk
· Opportunity cost
· Cash flow strain during disputes
Segment 3: State-Level Expansion & Industry Consolidation Florida Example· Recreational legalization pushed in 2024 but failed.
· Multi-state operators (MSOs) heavily lobby for expansion.
· Example: Trulieve and other large operators.
Tax Strategy RiskSome companies treat unpaid taxes as:
· A "loan" from the IRS
· Betting on favorable legal rulings
But risk:
· Potential clawbacks
· Penalties and interest
Many companies are aggressively challenging 280E.
Segment 4: Regulation, Licensing & Industry Structure State Regulation Differences· New Jersey & New England: Unified recreational frameworks.
· Unlimited license states = oversaturation.
· Limited license + lottery systems = high barriers to entry.
Zoning RestrictionsDispensaries:
· Cannot operate near schools or churches.
· Subject to strict local zoning rules.
· "Vice-style" regulation model.
Vertical Integration MattersVery difficult to survive with just one vertical.
Companies that control:
· Cultivation
· Processing
· Distribution
· Retail
…have stronger margins and operational control.
Operational Reality· No outdoor growing in high heat climates.
· Indoor, climate-controlled warehouses dominate.
· Highly regulated workforce (Facility Agent cards required).
Financing Landscape· Real estate lending
· Sale-leaseback arrangements
· Hard money loans (due to banking restrictions)
2026 Industry Predictions· Large operators buying smaller failing companies (trend slowing).
· Growth of mid-sized operators:
o 2 states → $20–50M revenue.
o 3–5 states → $100M+ revenue.
· Continued consolidation.
· Ongoing regulatory and tax uncertainty.
Melissa's Perspective: Being a service provider in cannabis means operating in constant uncertainty — but that's also where opportunity lives.
Cannabis 2025 in Review: Lessons Operators Can't Afford to Miss
If your client or employer is a cannabis operator who made it through 2025, congratulations. They survived a year that separated the strategists from the dreamers, the operators from the opportunists, and the businesses built on solid fundamentals from those riding on hype alone.
This wasn't the year of explosive growth and easy money. This was the year the cannabis industry got real.
Let's break down what happened in 2025 beyond the headlines. More importantly, let's break down what it means for the cannabis industry and you.
Article Link: HERE
Cannabis Topic: https://brt-show.libsyn.com/category/Cannabis-Hemp-Marijuana
Tech Topic: https://brt-show.libsyn.com/category/Tech
Best of Biotech from AZ Bio & Life Sciences to Jellatech: HERE
Thanks for Listening
Please Subscribe to the Podcast
AZ Tech Roundtable 2.0 with Matt Battaglia
The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business.
AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving.
Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more…
AZ TRT Podcast Home Page: http://aztrtshow.com/
'Best Of' AZ TRT Podcast: Click Here
Podcast on Google: Click Here
Podcast on Spotify: Click Here
More Info: https://www.economicknight.com/azpodcast/
KFNX Info: https://1100kfnx.com/weekend-featured-shows/
Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.
From the publisher's feed