Bilt215

Sylvester Mobley is the Founder and CEO of the youth tech education non-profit, Coded by Kids. Through his organization he works to increase access to tech education opportunities for those who are underrepresented in tech, especially children of color. Under his leadership, Coded by Kids has grown from serving fewer than 15 children in a rec center to serving more than 500 students per week. Tech has a lot of great benefits but there are still groups of people being locked out of it. Sylvester strongly believes that building a tech industry that is diverse, inclusive and equitable is one of the most pressing issues we face, and is working toward this with Coded by Kids. He shares more about his entrepreneurial journey, the impact he is having on kids in the region, and his hopes for the program in the future. Tune in to find out more.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Sylvester Mobley.

[2:38] Kevin does a speed round with Sylvester.

[7:33] Kevin and Sylvester discuss his background prior to starting Coded by Kids.

[10:58] How did Coded by Kids begin?

[14:13] What did the first few months of Coded by Kids look like?

[16:59] How did Sylvester decide to make the leap to focusing on Coded by Kids full-time?

[18:45] Sylvester explains the differences between equity and equality.

[21:19] What does equity look like at Coded by Kids?

[22:26] What is the difference between underserved and underrepresented?

[24:58] How does Sylvester approach such a huge systemic societal problem?

[27:19] What is the structure of Coded by Kids and how does it resemble a youth sports organization?

[31:57] What is the attrition or self-selection rate through the different stages of the program?

[32:54] Sylvester shares a little about how the programs work, and some of the kids he has seen move through the program.

[35:37] What are some of the creative projects produced by the students of Coded by Kids?

[38:55] Ctrl+Shift is a coding competition run for the students. Sylvester shares more about the competition.

[41:42] What are some of the hurdles Sylvester has had to overcome in his entrepreneurial journey?

[44:07] Who are some of the partners of Coded by Kids?

[46:15] Sylvester focuses on a long-term view for his organization, but other stakeholders may want a quick outcome. How does he address that difference in perspective?

[49:00] What are some of Sylvester's leadership principles?

[51:47] Who are some people who have influenced Sylvester in his life?

[54:10] What are Sylvester's greatest hopes and concerns for Coded by Kids?

Links:

Sylvester Mobley

Sylvester Mobley on Twitter

Coded by Kids

John McCain

Past Projects at Coded by Kids

AT&T

ComCast

Felicite Moorman is the CEO and co-Founder of STRATIS IoT, the only Sidewalk to Sofa® Intelligent Building Solution built for Multifamily and Student Housing. STRATIS helps create smart apartments and intelligent buildings built for the complexities of split multi-family and student housing. Serving over 325,000 apartments in the US, and over 18,000 internationally, STRATIS is poised for more growth in the future. Felicite reveals the journey to founding STRATIS, the customer experiences STRATIS offers, as well as some insight about the internal operations of the firm. She also speaks to her experience as a woman and a leader in the tech space, as well as some of her hopes for the Philly region in general.

Key Takeaways:

[3:20] Kevin does a speed round with his guest — Felicite Moorman.

[9:22] Kevin gives an overview of STRATIS IoT.

[10:11] What is CES? What were some of the trends that Felicite saw there?

[14:22] What was Felicite's background before STRATIS?

[19:34] Felicite explains the trajectory of Zonoff.

[20:47] What is IoT and what role does STRATIS play in it?

[23:11] Felicite shares more about her journey from BuLogics to STRATIS.

[29:22] What are some of the savings that Felicite brings her customers?

[31:47] Felicite talks us through the experience of walking through one of her smart buildings.

[36:40] What is the owner/manager/landlord experience in this?

[38:10] STRATIS is platform-agnostic but has certified partners. Felicite explains more about this.

[42:20] What is the revenue model for STRATIS?

[45:03] Who was one of the first investors in STRATIS and what was the incentive to invest?

[47:18] Felicite has made some unusual hires in her company. She shares more about the hiring process at STRATIS, and what drives the hiring decisions they make.

[54:12] What has Felicite's experience been as a woman and a leader in the technology space?

[58:26] What are some things Felicite would like to see improved in Philadelphia, and what are some of the exciting opportunities she sees?

Links:

Felicite Moorman

Felicite Moorman on LinkedIn

STRATIS IoT

Blitzscaling, by Chris Yeh and Reid Hoffman

The Messy Middle, by Scott Belsky

Books by Brené Brown

Masters of Scale Podcast 

CES

BuLogics

Silicon Labs

Zigbee

Ryan Buchert

Greystar Property

Lutron

ButterflyMX

Leviton

Honeywell

John Martinson

Mahe Bayireddi is the Co-Founder and CEO of Phenom People, a global HR technology company with a mission to help 1 billion people find the right job. With over 200 million people using the product in 140 countries, including 50 of the Fortune 500 companies, Mahe is well on his way to achieving his goal of revolutionizing the talent life cycle through technologies, specifically AI. Mahe shares more about his entrepreneurial journey, the inefficiencies he is trying to solve in the global hiring and recruiting market, and how his company is impacting millions of people globally. He also has insights about creating a strong company culture, how to export that culture around the world, and what it takes to be a leader. 

Key Takeaways:

[3:25] Kevin does a speed round with Mahe.

[5:45] Mahe has started other companies in the past. What were some of the big successes and losses in those?

[10:03] Kevin lays out the structure of this podcast.

[11:52] How did Mahe's journey begin?

[14:58] What is the problem that Mahe is solving? Who are the stakeholders in Mahe's business?

[18:24] There are many inefficiencies in the global hiring market that Mahe is trying to reduce with his company.

[24:36] Mahe describes his company as providing "talent experience management". What are some of those attributes they are using to drive those experiences?

[29:24] Kevin and Mahe discuss "customer" acquisition from an eCommerce, sales and marketing perspective vs. a recruiting and HR perspective.

[32:18] How does Phenom work with recruiters and employees?

[38:26] How does Mahe use AI to learn more about candidates beyond just their resumes?

[41:32] Mahe shares more about validated psychometric testing — what does that mean? How widespread is the adoption and what are some of the strengths and pitfalls?

[45:58] What are some elements of Phenom People that certain customers have rejected?

[48:05] What is the culture of Mahe's company?

[55:33] What are the five values at Phenom?

[58:47] Every candidate interviewed has to resonate with the company values to be a good fit. Mahe explains the hiring process at Phenom.

[1:00:42] How does Mahe ensure a positive onboarding process?

[1:05:02] Why has James Harvey Gravell become a part of the company ethos? 

[1:08:05] How has Mahe exported the company culture and ethos abroad?

[1:11:52] Mahe shares more about the company expansions into Europe.

[1:13:47] What is Mahe's leadership style? What are some of his leadership principles?

[1:17:47] How difficult has it been to export the company culture?

[1:19:54] How does Phenom's revenue model work?

[1:21:43] What is retention like at the company?

[1:23:23] Mahe share's more about the different rounds of fundraising he did.

[1:25:40] What are Mahe's feelings towards a potential IPO?

[1:26:36] What are some obstacles Mahe foresees in reaching his goal of serving 1 billion people?

Links:

Mahe Bayireddi

Phenom People

SnipSnap

DreamIt Ventures

Delivering Happiness, Tony Hsieh

James Harvey Gravell, Ambler Yards

Brad Goldoor, Chief People Officer Phenom People

Nader Elm is the Co-Founder and CEO of Exyn Technologies, a commercialization of the technology spun out of GRASP Labs (General Robotics, Automation, Sensing and Perception Laboratory at the University of Pennsylvania). Since its founding in 2014, Exyn has become the world leader in autonomous data acquisition using drone technology. The artificial intelligence behind their autonomous software platform has found commercial success in the mining industry, and Nader has plans to expand into the construction industry next. Nader explains how he ended up in the robotics and AI industry, the unique gap in the marketplace that Exyn addresses, and the business and revenue model of Exyn. Tune in to find out more about how Nader and Exyn Technologies are pushing the Philadelphia region into the future of robot technology.

Key Takeaways:

[3:23] Kevin does a speed round of five questions with Nader Elm.

[6:30] What does Exyn do?

[8:18] Who is Vijay Kumar, and how did Nader and he get together?

[10:32] Who was the initial investor of Exyn Technologies?

[11:25] What is PCI Ventures?

[14:21] How did Nader feel about the initial challenge of setting up Exyn Technologies?

[15:59] Who is Nader's market with Exyn? Who are the competitors, and how is Exyn different?

[19:56] How did Nader find his target market in the mining industry?

[22:15] What is the mining industry currently doing to solve its problem of not having a comprehensive map of the underground mines?

[26:47] Kevin and Nader discuss some other applications of the technology produced by Exyn.

[28:47] How does GPS work, and what is the system that takes its place in Exyn?

[33:01] What are some interesting areas of Exyn from an investor standpoint and from a customer standpoint?

[37:58] How does the drone know when its job is done?

[38:56] Nader highlights some other interesting and unique features that Exyn offers.

[42:09] Nader explains how a team of robots would operate together.

[44:49] What is Exyn's business model and revenue strategy?

[49:02] Exyn's next industry to expand into is the construction industry. What is unique about their solution that isn't being addressed by existing players?

[50:16] What is the level of detail that the drones are able to capture?

[51:36] How did Nader find the investors in his latest round of fundraising?

[54:00] How is Nader using the funds he has raised?

[54:49] Talent is a big part of the company. What is the structure of the company and how is Nader managing his team?

[57:46] How easy is it for Nader to find the talent that he needs?

[1:02:39] What is the culture of Exyn Technologies?

[1:05:40] Who are some of the influences in Nader's life that have impacted him?

[1:09:41] What are Nader's thoughts on whether entrepreneurs are born or nurtured?

Links:

Nader Elm

Exyn Technologies

Vijay Kumar

TED Talks by Vijay Kumar

IP Group [00:10:54] 

IMAX

Bill Yoh is the youngest of five children born to Spike Yoh. Bill's grandfather, Harold, helped build the Philadelphia-based business that is now in its 5th generation, Day & Zimmermann. Founded in 1901 as a fledgling staffing company for engineers, it has grown into a massive organization of 45,000 employees globally and nearly $3 billion in revenue, making it one of the biggest privately held companies in the US and the world. Their employees protect faraway embassies, create munitions for the US defense department and staff nuclear power plants. Bill is part of the 3rd generation of Yoh children who have worked at Day & Zimmermann in some capacity, and in 2017, Bill undertook the endeavor to chronicle the family history. Through interviews with his father and other related parties, Bill compiled the history of Day & Zimmermann and its century-long lineage into a book, Our Way: The Life Story of Spike Yoh. In this interview, we dive into Spike Yoh, his legacy, the ups and downs of running a family, a business, and a family business, focusing on four themes — enterprise, leadership, culture, family business dynamics. Tune in to find out more. 

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Bill Yoh.

[3:50] Kevin does a speed round with Bill.

[6:44] Day & Zimmermann is an impressive company. Why don't more people know about it?

[8:24] How much of the Day & Zimmermann team is in Philadelphia vs other sites?

[8:58] What did the company start as and how has it evolved over time?

[10:25] What was the difference between Yoh Staffing Services and Day & Zimmermann?

[11:17] How did the revenue of the company change over time?

[12:33] What are the four business lines of the company?

[14:32] What are some of the high profile construction jobs Day & Zimmermann has been involved in?

[16:39] Why has Day & Zimmermann remained private instead of going public?

[18:38] How has the company taken on outside equity through the years?

[20:02] There was a time when there was a business miss that didn't align with the corporate values or strategy. Bill speaks more about this situation.

[22:05] What are Bill's greatest hopes and fears for Day & Zimmermann, and the greatest opportunities he sees?

[25:17] How did some of Spike's family influences dictate the way he led the company?

[31:19] Kevin and Bill discuss some of Spike's leadership traits and styles.

[37:07] Spike was big on giving back to his community and his alma mater.

[38:46] How does Bill feel about his relationship with his father, a larger-than-life figure?

[41:04] What is the culture of Day & Zimmermann like? What were the foundational values and "our way"?

[46:04] What were some hurdles Spike had to overcome to buy out the company from his father?

[51:01] How was the transition and succession from Spike to Hal and Billy, as compared to from Harold to Spike?

[54:26] Bill and Kevin discuss some of the anecdotes from the book.

[56:31] Was it always assumed that Hal would take over.

[58:05] What does Bill envision for the next five generations and the company?

[1:01:39] What is Coach K's five-finger analogy and how has it played out in the Yoh family dynamic?

[1:03:43] The Yoh family has developed a system of metaphorical hats. Bill explains the system.

[1:05:32] How did Hal, Mike, and Bill become shareholders of the company?

[1:07:32] What were the three strategies implemented when Hal took over?

[1:10:47] How important was the Philadelphia region to Billy, his family, and his company's success?

Links:

Bill Yoh

Day & Zimmermann

Yoh Family

Our Way, by Bill Yoh

Comcast

Vanguard

City of Philadelphia

Yoh Staffing Services

Panama Canal

Lockheed Martin

Bill Hamm

Coach K, Duke University

Mike Hagan is a founder, operator and wildly successful investor in a variety of companies. He has repeatedly proven his ability to create or invest in a company, scale it and successfully exit. His venture was the B2B procurement WebHost VerticalNet, which hit a market capital peak of $11 billion. Unfortunately, Vertical Net ended in flames like many other dot.com companies at the turn of the millennium. Following that experience, Mike used his personal profits and lessons learned along the way to buy and build NutriSystem, with an eventual big exit to diet nutrition conglomerate Trivity for $1.4 billion. Mike's next venture was a similar controlling interest investment in the DIY home security company LifeShield which he and his team scaled rapidly, sold, eventually bought back, and sold again for a substantial profit. In 2014, Michael launched HawkCapital, his current passion project. A founder, operator and investor, Michael is a man who has taken on multiple roles and worn many hats. Tune in to find out what he has learned from his experiences.

Key Takeaways:

[1:18] Kevin introduces his guest for this episode — Mike Hagan.

[3:00] Kevin asks Mike five speed questions.

[5:37] What was WaterOnline and how did it start? Mike shares the story of how he got started with what eventually became VerticalNet.

[8:38] Mike shares more about how the expansion of the internet led to establishing multiple VerticalNet communities.

[15:25] How difficult was it to navigate the early stages of VerticalNet in an uncertain environment?

[18:17] What was the business model like for VerticalNet?

[20:16] VerticalNet eventually went public. Mikes shares more about that experience.

[25:08] Beyond just the advertising component, what were some other pockets of revenue that Mike was able to grab?

[28:29] VerticalNet's stock took a sudden plunge in 2000.

[28:59] Mike talks about some of his experiences with the leaders of Microsoft.

[30:06] What were some of the tough decisions that Mike had to make in the aftermath of the dot.com bubble bursting?

[35:40] Mike learned a useful skill during his early days at VerticalNet — seeing opportunities. How did that play into his experience at Nutrisystem?

[39:06] Mike regrets not taking Nutrisystem private. He explains why.

[42:47] How did Mike raise capital? Mike shares the trajectory of Nutrisystem from 2005 to 2008, and briefly after he re-joined the company.

[48:04] Mike talks about some of the numbers behind the business. 

[51:19] Who were some of the celebrities that got behind Nutrisystem?

[54:08] How did Mike get involved with LifeShield?

[59:52] What is the business model for LifeShield?

[1:02:11] As a consumer, ADT is the category killer, and LifeShield is considerably smaller. How does LifeShield compete?

[1:04:21] What kind of technology was LifeShield holding on to at the time?

[1:06:08] LifeShield was sold to DirectTV, and then eventually bought it back from them. Mike shares the process.

[1:15:28] Who did Mike bring in as investors?

[1:16:26] Hawk Capital lists a lot of requirements for potential investments. Mike explains some of the reasoning behind that.

[1:20:00] Mike is competing with a lot of capital to get good investments. How does he manage that?

[1:23:19] How important was the Philadelphia region to Mike's journey? What is Mike's hope for his alma mater?

Links:

Mike Hagan

VerticalNet

Nutrisystem

Trivity

LifeShield

DirectTV

SJU

AT&T

Netscape

Safeguard Scientifics

Ira Lubert

eBay

Yahoo

Lycos

AltaVista

AskJeeves

Mark Walsh

AOL

Microsoft

SoftBank

British Telecom

Satya Nadella

WebMD

NewSpring Capital

Blackstone

Lehman Brothers

Dawn Zier, CEO of Nutrisystem

Louis A. Stilp

Steve Jobs

Apple

ADT

Comcast

Verizon

Amazon Ring

Bob Moore is a serial entrepreneur with over 15 years of experience, who started his first business venture when he was at Princeton. In the early 2000s, as online poker was becoming popular, Bob jumped on an observation he made to create the Mooraculator to computerize what his peers were calculating in their heads to level the playing field for others who wanted to make money playing poker. After graduation, he joined Insight Venture Partners as an analyst and learned the importance of data when doing due diligence. Eventually, he left to start RJ Metrics with his friend and colleague, Jake Stein. RJ Metrics focused on providing software  that helps online businesses make smarter decisions using data, particularly in the e-commerce space. That venture quickly scaled and attracted $23 mil in venture capital, and was later sold to Magento. From RJ Metrics, Bob spun out to launch Stitch, a simple, powerful ETL (extract, transform and load) service built for developers which he then also sold. In 2018, Bob started his current commercial business — Crossbeam, with a focus on data. It acts as an escrow service for data, allowing companies to find overlapping customers and prospects for their partners while keeping the rest of the data private and secure. Bob recently took Crossbeam through $10mil venture round and has a lot of insight to share about his business journey thus far. Tune in to find out more.

Key Takeaways:

[1:17] Kevin introduces his guest for this episode — Bob Moore.

[3:46] Kevin does a speed round with Bob.

[11:31] Bob has founded four companies so far and is involved in several others in other capacities.

[12:19] How did Moore commercialize his first business, the Mooraculator? What was the business model?

[20:14] What was Bob's exit strategy?

[21:07] How was Bob's experience at Inside Venture Partners?

[23:49] Why was Bob chosen for his job?

[26:30] Who did Bob meet at Inside Venture Partners?

[27:10] Bob shares the journey of how he and Jake Stein got together to solve the same problem with RJ Metrics.

[31:19] What was the business journey of RJ Metrics?

[36:40] Whose insights gave rise to RJ Metrics?

[38:45] Who were RJ Metrics' top customers?

[41:23] How did RJ Metrics raise $23 million in VC funds

[47:03] RJ Metrics was eventually sold to Magento.

[48:45] Why was Stitch a distinct standalone from RJ Metrics?

[51:10] Bob explains how Stitch fit into RJ Metrics, why clients were interested in it and how it came to be a spin off from RJ Metrics.

[54:44] What was the investment in Stitch like?

[55:37] Why did Talent want to buy Stitch?

[58:38] What was the genesis of Crossbeam?

[1:05:25] Bob and Kevin discuss the relevance of blockchain to Crossbeam.

[1:07:05] Bob recently raised $12 million in venture capital. How and why did Bob decide to raise capital?

[1:09:50] Bob explains the business model behind Crossbeam.

[1:11:07] What has Bob learned in his years of experience that he is applying to Crossbeam in terms of culture.

[1:17:53] Bob talks more about equity and fun and why they are important to his company culture.

Links:

Bob Moore on LinkedIn

Mooraculator

Insight Ventures Partners

RJ Metrics 

Elon Musk

PayPal

Tesla

Philadelphia Alliance for Capital & Technologies (PACT)

Philly Startup Leaders

Dean Miller 

Chris Cera

The Awesome Foundation

Rounders Movie

AOL

Comcast

Party Poker

Poker Stars 

Dollar Shave Club

Threadless

Warby Parker

Rent The Runway

Fab.com

Trinity ventures

Magento

Adobe

Hubspot

Salesforce

Amazon Redshift

MailChimp

Trello

GitHub

Crossbeam

Pinkwashing

Dean Miller has been a venture capitalist for over 20 years, with particular interest in the healthcare technology and innovations space. Brought up in upstate New York, his early experiences shaped him for independence and entrepreneurship. Dean served as Managing Director at Novitas Capital, where he focused on venture capital investments across healthcare and technology. He went on to become Managing Director of the PCOM Primary Care Innovation Fund, a role he describes as not just making money for the institution but to really broaden the institution's mind around healthcare and innovation. Dean’s passion project is ultimately running Philadelphia Alliance for Capital & Technologies (PACT) as President and CEO. He shares some of his experiences with PACT, as well as the new Philadelphia Global Identity Project. Tune in to find out more.

Key Takeaways:

[3:20] Kevin does a speed round with his guest — Dean Miller.

[7:18] What was Dean's upbringing like in upstate New York?

[11:25] What was Dean's time like at Novitas?

[13:03] Dean shares his experience working with Buck Buckley.

[14:45] Dean led investments into a variety of companies. He reveals some of the highlights of the time.

[16:50] When did Dean get involved in Renal Solutions and why did he get out of it?

[18:34] What is PCOM and the Primary Care Innovation Fund?

[21:38] Why was there an inherent or potential conflict between PCOM and other research institutions?

[23:17] Dean has made eight investments in the last three years. What kind of companies does he choose to focus on?

[27:04] What is the benefit of seeking investment from PCOM?

[33:33] What is PACT and why does it exist? Dean shares some details about its creation and development.

[38:27] Dean speaks to the vision and mission of PACT.

[39:36] What are the three pillars of PACT and why are they important?

[45:59] Why is it important that the mentors get to choose their mentees?

[49:30] Philadelphia was one of the top 10 most active regions in the US for venture capital in 2018.

[56:59] On the innovation front, where are Philadelphia's bright spots?

[1:02:51] What is the Philadelphia Global Identity Project?

Links:

Dean Miller

Novitas Capital

PCOM

PCOM Primary Care Innovation Fund

Philadelphia Alliance for Capital & Technologies (PACT)

Global Identity Project

Penn Center for Innovation

Safeguard Scientifics 

VerticalNet

Matt Hagen CEO of Vertical Net

Agile Therapeutics

Cernostics, Inc.

Renal Solutions

Incurrent Solutions

VIPDesk
Tango Belt

Venture Connect

MIT

Visit Philly

Chris Gali and Chris Doggett are serial entrepreneurs who have partnered on a variety of ventures. After getting to know each other during their time in AIG, and encountering problems that did not have solutions, they struck out together to start their first venture, Admin Server, an insurance industry software firm. Over almost ten years, they grew the firm from a start up to a multi-million dollar company that was eventually sold to Oracle. Chris and Chris then decided to move into the spirits business, and launched Franklin Mortgage and Investment Company, a speakeasy style establishment that serves top-notch cocktails, which has enjoyed considerable success with their clientele. In 2012, Chris and Chris established their third venture together, Graphite GTC, a No-Code platform for financial services and large institutions. In this interview, Chris and Chris share their experiences, challenges, and lessons learned from their ventures. Tune in to find out more.

Key Takeaways:

[3:24] Kevin does a speed round with Chris and Chris.

[9:56] Where did Chris and Chris meet?

[10:46] What prompted Chris and Chris to leave AIG and start Admin Server?

[14:47] How long did it take Chris and Chris to develop a viable product? They share their process and how they generated income along the way.

[18:55] Who was the first investor in AdminServer?

[21:05] In 2008, the company was sold to Oracle for $125 million. How did the company grow from a start up in a basement to a multi-million dollar company?

[27:43] Chris and Chris share more about the "Mystery and Intrigue Weekend" that they hosted for their employees.

[30:12] What problem was AdminServer solving?

[36:25] Chris and Chris reveal the details of the sale of AdminServer to Oracle.

[40:41] How did the idea for Franklin Mortgage and Investment come about?

[44:10] What is Chris and Chris' vision for Franklin Mortgage?

[46:08] Why did Chris and Chris decide to go with a speakeasy for this venture?

[46:53] What does the name Graphite GTC mean?

[49:35] How does Graphite GTC solve the problems of its industry?

[52:38] Chris and Chris share some real life examples of how they serve their clients at Graphite.

[55:46] Who are Chris and Chris' audience?

[1:01:04] What is Visual Studio in comparison to Graphite?

[1:04:33] Chris Doggett has been working in a separate but related company serving the Department of Energy in D.C. He shares his experiences there.

[1:08:06] What would be the natural progression for VG IT?

[1:15:13] What are Chris and Chris' biggest hopes and fears for Graphite and the larger space they operate in?

[1:17:39] What do Chris and Chris love about Philadelphia?

[1:19:03] What would Chris and Chris change if they were mayors for a day?

Links:

Chris Gali

Chris Doggett

Franklin Mortgage and Investment Company

Graphite GTC

Milton Friedman

AIG

Oracle

Larry Ellison

Visual Studio

Elon Musk

VG IT Services

Walter “Buck” Buckley is the Managing Partner of Seminal Capital Partners, an investment company that focuses on cloud-based software and service businesses, and the Chairman and CEO Of Actua Corp, formerly Internet Capital Group (ICG). Buck has a passion for people and the unique ability to dream an idea and help a team to execute it. On this interview, Buck recounts his experiences starting with his nine-year tenure at Safeguard Scientifics, a venture capital firm founded by Pete Musser. He tells of his experiences during the recession of 1991, how he was inspired to strike out on his own to start the ICG after observing an emerging market with the help of Pete Musser. Eventually, after seeing significant success and surviving the stock market crash, ICG transitioned to Actua Corp. Buck shares some of his key takeaways from his experiences, and some of the investments they made then. Today, as Buck’s focus has shifted slightly with Seminal Capital Partners, and he shares more about what excites him about his company, Philadelphia as a market, and the future. Tune in to find out more.

Key Takeaways:

[2:01] Kevin starts off the interview with a speed round with Buck.

[6:41] Kevin gives a brief history of Safeguard Scientific.

[8:58] What was Safeguard like when Buck first joined, and how did his role change in the 9 years he worked at Safeguard?

[12:59] Buck shares his experience with the 1991 recession and how that spawned Safeguard.

[16:38] Who were part of the "Safeguard Mafia"? This impressive team was attributed to Pete's ability to attract talent.

[18:19] How did Buck and Ken start ICG?

[23:07] What was Pete's sense for the potential of the Internet?

[23:47] Buck talks about the early stages of the ICG journey.

[25:58] Buck elaborates on the seed, build, sell model that ICG adopted in its investments.

[27:20] What was the environment like to raise capital in that time?

[28:31] What was the focus of the investments that Buck and his team made at that time?

[29:49] The company went public in 1999. When did the team make that decision? Buck reveals the events leading up to the rise to $60 million.

[35:16] How did Buck deal with the meltdown that came after they hit the peak?

[38:51] What are Buck's thoughts on whether there are parallels in the crypto and cannabis markets to Tulipmania?

[40:08] 2001-2002 were the darkest years of Buck's life. He explains why.

[44:42] What is Buck's position on debt?

[48:40] What was Pete's role during the difficult times?

[50:46] When did Buck make the switch to Actua? He shares some of the investments they made.

[54:59] What is Instamed?

[56:42] The regulatory environment changed drastically post-2010. Buck eventually threw in the towel and delisted the company.

[59:23] What excites Buck about Seminal and what is his current focus?

[1:01:54] How competitive is the space that Seminal is in, and why is Seminal more appealing than its competitors?

[1:05:03] What is Buck's advice to his younger self?

[1:07:00] What's Buck's opinion on whether entrepreneurs are born or made?

[1:08:33] How important was the Philadelphia region to Buck's success, and what does he think of its potential?

[1:11:48] If Buck were mayor or governor, what are some things he would change immediately?

Links:

Walter Buckley

Episcopal Academy

FC Barcelona

Arsenal

Safeguard Scientifics 

Pete Musser

Actua Corporation, formerly ICG

Seminal Capital Partners

Novell

Silicon Graphics

Intel

Michael DiPiano

Ratuken LinkShare

GovDelivery

InstaMed

Salesforce

Trello

NetSuite

PayPal