NC Tweener Talks

This is Part 1 of a two-part conversation. In this episode, we focus on Offline’s origin story and business evolution, not AI (yet).

Highlights from Part 1

• Offline has effectively been three different companies under one brand
• Early versions tried to reinvent Meetup, and failed
• A city-guide app reached ~3M people/month but couldn’t monetize
• Consumer businesses can look successful while quietly breaking
• Subscription was the first model that truly worked
• Restaurants don’t want “deal seekers”, they want incremental revenue
• Offline works because it optimizes excess capacity, not discounts
• COVID forced a near-shutdown, and a total rethink of operations
• Today, Offline runs across 10 cities with ~600 restaurants and ~10,000 subscribers

Most founders only hear about the winning version of a company. This episode shows the cost of getting there: years of pivots, wrong turns, false confidence, and learning, sometimes the hard way, how markets actually work.

Offline didn’t succeed because of a clever growth hack. It survived because David kept learning, iterating, and refusing to confuse traction with sustainability.

Where to Find David Shaner:

LinkedIn: https://www.linkedin.com/in/davidshaner/

Offline Media: https://www.letsgetoffline.com/

Where to Find Scot Wingo: 

LinkedIn: https://www.linkedin.com/in/thescotwingo/ 

Tweener Times: https://www.tweenertimes.com/ 

X: https://x.com/scotwingo

Timestamps
00:00–02:30 – Introduction & what this two-part series will cover
02:30–05:30 – David’s background, NC State, and discovering entrepreneurship
05:30–08:00 – The original idea: human connection in a screen-first world
08:00–11:30 – Era 1: trying (and failing) to reinvent Meetup
11:30–13:30 – Era 2: city guides, millions of users, zero monetization
13:30–15:40 – Era 3: subscriptions finally click
15:40–17:30 – COVID, near shutdown, and survival
17:30–23:30 – Why restaurants accept discounts (the airplane seat analogy)
23:30–25:30 – Why Groupon failed restaurants — and why Offline didn’t
25:30–44:00 – Productivity, systems thinking, and process obsession
44:00–45:10 – What’s coming in Part 2
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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West. 

We couldn’t share posts like this without our amazing sponsors: 

Gold Sponsors: 

- Balentine: https://www.balentine.com/triangle-entrepreneurs 

- EisnerAmpner: https://www.eisneramper.com 

- Robinson Bradshaw: https://www.robinsonbradshaw.com 

Silver Sponsors: 

- Automated Consulting Group: https://automated.co 

- Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html 

 2025 Sponsors: 

- Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

Part 2 picks up where the origin story ends, and where the real work begins.

Tony breaks down the three phases of Phononic: proving the science, surviving productization, and ultimately finding the market where solid-state cooling wasn’t just better, but mission-critical. It’s a candid look at why deep-tech companies require patience, capital discipline, and brutal focus to survive.

This is the episode for founders navigating scale, manufacturing, or markets that don’t yet exist.

Highlights from Part 2

• The three semiconductor problems Phononic had to solve, together
• Why feasibility took ~$10–15M before a real product even existed
• The hidden cost of productization (and why Phase 2 was the most dangerous)
• Why Phononic nearly spread itself too thin across HVAC, cold chain, and data centers
• “Market → product fit” vs. product → market fit
• The moment AI and accelerated computing changed everything
• Why data centers became Phononic’s core focus
• Licensing non-core markets instead of shutting them down
• Tony’s three most important lessons for founders building outside Silicon Valley

Phononic’s story isn’t about chasing trends, it’s about surviving long enough for timing, technology, and market need to finally align.

For founders building deep tech, Part 2 is a reminder: focus is strategy, patience is power, and big outcomes demand big ambition.

Where to Find Tony Atti:

LinkedIn: https://www.linkedin.com/in/tony-atti-ph-d-316483/

TradePending: https://phononic.com/

Where to Find Scot Wingo: 

LinkedIn: https://www.linkedin.com/in/thescotwingo/ 

Tweener Times: https://www.tweenertimes.com/ 

X: https://x.com/scotwingo

Timestamps:

05:55 — Back in conversation: “layman’s version of the 3 problems”

06:06 — The 3 fundamentals: material science, semiconductor processing, packaging

07:40 — The 3 metrics that matter: coldness, electricity consumed, work/heat pumped per area

08:31 — Doing university partnerships “right the first time” (no cap table traps)

09:35 — Key insight: academia solved pieces separately; Phononic integrated all 3

09:47 — First chips built on Centennial Campus; early build process vs today’s automation

10:36 — Cost to feasibility: roughly ~$10M to get to commercially meaningful chips

11:33 — Phase 2 = productization (unexpected + expensive)

11:45 — Big lesson: market/product fit (not product/market)

12:28 — Reality of productization: inventing mechanical/thermal/software/firmware + supply chain from scratch

13:30 — The mistake: trying to productize across 3 huge markets at once (HVAC, cold chain, data centers)

15:34 — Why it was intoxicating: solid-state = smaller/better/faster/efficient + millisecond response time

16:25 — The strategic pivot: raise $100M to go deep in one vertical + license non-core

17:22 — Data centers weren’t obviously mission-critical (then)

18:15 — Inflection: jump to 1.6T + cooling becomes critical for signal integrity

19:08 — COVID tailwinds: vaccine cold chain + air quality/HVAC relevance

19:37 — AI compute explosion: optics → GPUs → switches → whole data center becomes thermal hotspot

20:38 — Licensing moves: PeltierPro for cold chain/merchandising; Halton for HVAC

21:17 — Company snapshot: ~100–140 people; 30k sq ft fab in Durham; Fabrinet Thailand; teams in Thailand + China

21:53 — EBITDA positive Q4; 2026 forecast revised up; possible cash-flow positivity mid-2026

23:26 — Tony’s 3 founder lessons: market/product fit, ruthless focus, dream big (same work for $100M vs $1B)

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West. 

We couldn’t share posts like this without our amazing sponsors: 

Gold Sponsors: 

- Balentine: https://www.balentine.com/triangle-entrepreneurs 

- EisnerAmpner: https://www.eisneramper.com 

- Robinson Bradshaw: https://www.robinsonbradshaw.com 

Silver Sponsors: 

- Automated Consulting Group: https://automated.co 

- Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html 

 2025 Sponsors: 

- Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In this episode (Part 1), we cover the origin story. 

Tony walks through the decisions, failures, and inflection points that led to Phononic’s founding: leaving the Northeast for graduate school at USC, working on applied energy systems at JPL during the Mars rover era, and learning painful but formative lessons from a university spin-out that didn’t work.

Then comes the moment you can’t script. In the fall of 2008, while the global financial system is actively collapsing, Tony presents a research thesis on why semiconductors transformed everything except cooling. He walks out that same day with a term sheet and a $2M commitment to found Phononic.

Highlights from Part 1

• Growing up blue-collar in Buffalo and why that shaped Tony’s leadership style
• The career-defining decision to leave the Northeast for USC
• What JPL teaches you about rigor, testing, and humility
• Why most university spin-outs struggle with equity alignment
• How venture capital experience sharpened Tony’s founder instincts
• Why cooling is the last unsolved semiconductor frontier
• Founding Phononic the day Lehman collapsed
• Why the Triangle, and NC State’s Centennial Campus, won as Phononic’s home

Where to Find Tony Atti:

LinkedIn: https://www.linkedin.com/in/tony-atti-ph-d-316483/

TradePending: https://phononic.com/

Where to Find Scot Wingo: 

LinkedIn: https://www.linkedin.com/in/thescotwingo/ 

Tweener Times: https://www.tweenertimes.com/ 

X: https://x.com/scotwingo

Timestamps:

01:40 — Scot tees up why Tony is a “special treat” + why Phononic matters in the Triangle

03:50 — Travel / frequent flyer miles (4M miles + recent global sprint)

05:10 — Why Phononic is a “quiet deep tech giant” more people should know

05:23 — Tony background: blue-collar Buffalo + early “entrepreneur roots” (paper route, driveways, grass)

06:00 — Parents + upbringing + being the only Italian family in an Irish neighborhood

06:50 — “Boardroom to factory floor” comfort as a leadership superpower

07:07 — College path: biochem → decides against med school → USC opportunity

08:20 — USC + energy/sustainability roots before it had a name

08:50 — JPL/Caltech work: solid polymer electrolytes + Mars-era applied R&D

10:07 — JPL geek-out: what JPL does + Tony’s work context

11:42 — Engineering culture: redundancy, testing, quality mindset

11:56 — Funny JPL story: Tony’s dad jokes “it’s all fake, filmed here”

12:26 — The Martian detail: radioisotope thermoelectric generator explanation

12:59 — First startup failure: university IP / cap table misalignment lessons

14:23 — Timeline bridge: how that failure pushed Tony into VC + founding MHI Energy Partners

15:48 — The Phononic founding story starts: 2007–08 crisis + job search

16:46 — Venrock mentor moment: “world doesn’t need another VC” challenge

17:00 — Thesis: semiconductors transformed everything except cooling/heating

17:41 — 3-month “liars and thieves” tour: universities + semiconductor ecosystem due diligence

18:20 — Thermoelectrics vs vapor compression (what makes solid-state different)

19:16 — The pitch day: Lehman collapse on the screens while Tony presents

20:45 — Term sheet drop: $2M commitment + “founded the company that afternoon”

21:33 — Why Venrock matters / halo effect (Scot commentary)

21:59 — Why North Carolina: portfolio company move + Tony relocates

23:26 — Why RTP/NC State won: Centennial Campus enabled fast lab/fab buildout

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West. 

We couldn’t share posts like this without our amazing sponsors: 

Gold Sponsors: 

- Balentine: https://www.balentine.com/triangle-entrepreneurs 

- EisnerAmpner: https://www.eisneramper.com 

- Robinson Bradshaw: https://www.robinsonbradshaw.com 

Silver Sponsors: 

- Automated Consulting Group: https://automated.co 

- Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html 

 2025 Sponsors: 

- Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In Part 2 of the conversation with Brice Englert, we move from origin story to execution and scale. We cover:

• Pricing without overthinking: how TradePending set pricing before having perfect data
• Sales-first growth: building an outside sales motion that paid for itself quickly
• Scaling with discipline: reaching profitability fast and choosing when to reinvest
• Private equity, from the founder’s seat: rolling equity, staying on, and navigating majority ownership
• Growing TAM over time: expanding the product surface area instead of chasing a massive TAM upfront
• What’s next: stepping aside as CEO, staying on the board, and gearing up for the next auto tech company

Brice’s story is a masterclass in building a durable SaaS company without shortcuts, staying close to customers, making practical decisions early, and expanding only when the foundation could support it. Part 2 shows what happens when disciplined execution meets long-term thinking.

Where to Find Brice Englert:

LinkedIn: https://www.linkedin.com/in/briceenglert/

TradePending: https://tradepending.com

Where to Find Scot Wingo: 

LinkedIn: https://www.linkedin.com/in/thescotwingo/ 

Tweener Times: https://www.tweenertimes.com/ 

X: https://x.com/scotwingo

Timestamps:

05:10 – Starting TradePending and early engineering decisions
06:20 – Finding the first lead engineer
06:55 – First product build and rapid time to market
07:25 – SaaS business model and early monetization
08:55 – Pricing strategy and premium positioning
09:45 – Why pricing doesn’t need to be perfect early
10:25 – Sales-led growth and early break-even
11:55 – Refining the sales motion and deployment speed
12:00 – Launching second and third products
13:05 – Reaching meaningful scale and revenue milestones
13:25 – Deciding to explore growth and exit options
14:00 – Choosing a majority private equity partner
15:55 – Staying on post-deal and rolling equity
17:05 – Working with PE and scaling responsibly
18:10 – Acquisitions and expanding the platform
19:30 – Stepping aside as CEO and planning the next chapter
21:00 – Lessons on leverage, risk, and capital structure
22:10 – Using AI tools to build the next company
23:30 – Teasing the next startup
24:10 – Reflections on TAM and long-term growth
26:00 – How TAM expands through customer-led innovation
28:05 – Final takeaways and closing thoughts

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West. 

We couldn’t share posts like this without our amazing sponsors: 

Gold Sponsors: 

- Balentine: https://www.balentine.com/triangle-entrepreneurs 

- EisnerAmpner: https://www.eisneramper.com 

- Robinson Bradshaw: https://www.robinsonbradshaw.com 

Silver Sponsors: 

- Automated Consulting Group: https://automated.co 

- Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html 

 2025 Sponsors: 

- Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In this episode (Part 1), Brice shares the early story: how the idea formed, how he got the first version built, what the market told him at the beginning, and what he did to push through the inevitable uncertainty that comes with building from scratch.

This is the origin story and early foundation of TradePending, before the scaling years.

You’ll hear:

• How Brice got started and why he chose automotive as the arena
• What the earliest product looked like (and what didn’t work first)
• The “crowded market” problem, and how Brice found an opening anyway
• Early execution lessons: getting something live, getting customers, and learning fast
• The mindset shift from idea → real business momentum

TradePending’s story is a reminder that the early stage isn’t about having the perfect model, it’s about building something real, listening hard, and creating momentum one customer at a time.

Where to Find Brice Englert:

LinkedIn: https://www.linkedin.com/in/briceenglert/

TradePending: https://tradepending.com

Where to Find Scot Wingo: 

LinkedIn: https://www.linkedin.com/in/thescotwingo/ 

Tweener Times: https://www.tweenertimes.com/ 

X: https://x.com/scotwingo

Timestamps:

01:57 – Introduction to Brice Englert
02:50 – How Scot discovered TradePending
05:30 – Brice’s background and early career
07:30 – Engineering, Air Force, and selling technology
08:15 – MBA and early entrepreneurship exposure
11:45 – Corporate lessons from UBS
14:00 – Entering auto tech through M&A
17:10 – How acquirers evaluate startups
22:00 – From corporate development to operator
24:10 – The idea behind TradePending
25:50 – Naming the company and early vision
27:00 – Leaving corporate and managing risk
30:55 – Taking the leap into entrepreneurship
33:25 – Early funding and staying lean
34:30 – Customer feedback and early skepticism
38:35 – Competing in a crowded market
40:00 – NC IDEA rejection
40:12 – Rejection as fuel 

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West. 

 We couldn’t share posts like this without our amazing sponsors: 

Gold Sponsors: 

- Balentine: https://www.balentine.com/triangle-entrepreneurs 

- EisnerAmpner: https://www.eisneramper.com 

- Robinson Bradshaw: https://www.robinsonbradshaw.com 

Silver Sponsors: 

- Automated Consulting Group: https://automated.co 

- Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html 

 2025 Sponsors: 

- Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In this special solo episode of Triangle Tweener Talks, Scot goes beyond the two-part Tweener Times report to walk founders through what the data actually means in practice. This episode exists for one reason: to give Triangle founders clearer goalposts, better context, and fewer surprises when they sit down to raise capital.

Tune in to hear:

• How founders can self-service fundraising expectations using real Triangle data
• The most common caps, discounts, and raise sizes at each stage
• Why $1M ARR is a major valuation inflection point
• SAFE vs convertible note vs priced round, when each actually makes sense
• What investors look for at Seed vs Series A (and why many founders get stuck)
• How founder-market fit and AI trends skew early valuations
• Why Triangle companies often raise less, and why that’s a strength

Where to read each part:
Part 1: https://www.tweenertimes.com/p/part-iii-triangle-startup-venture
Part 2: https://www.tweenertimes.com/p/part-iiii-the-triangles-first-and

Where to Find Scot Wingo:

• LinkedIn: https://www.linkedin.com/in/thescotwingo/
• Tweener Times: https://www.tweenertimes.com/
• X: https://x.com/scotwingo

In this episode:
00:00 – 03:00 Why this data exists & the founder questions it answers

03:00 – 07:00 How the Tweener Fund dataset was built (and anonymized)

07:00 – 15:00 The origin of the Tweener List and index strategy

15:00 – 22:00 How funding stages are defined by company progress

22:00 – 35:00 SAFEs, convertible notes, priced rounds — explained

35:00 – 45:00 How deal structures change from Pre-Seed to Series A

45:00 – 59:00 Valuations, raises, and dilution by stage

59:00 – 1:07:00 What founders should actually do with this data

If this is your first time really digging into venture fundraising, you’ll hear a few terms that investors use casually but aren’t always obvious. Here’s a quick guide to the most common ones we reference in this episode:

• Pre-Seed: The earliest stage of venture funding. Often used to fund initial product development, early customer discovery, or getting to a first version of product-market fit. Rounds are typically smaller and more founder-bet driven.
• Seed: The stage where a company has early traction and is working to prove repeatability. Investors expect evidence that customers want the product, not just that it can be built.
• Series A: A growth-oriented round where the question shifts from “Does this work?” to “Can this scale?” Metrics, revenue quality, and go-to-market execution matter much more here.
• Valuation: The implied value of your company during a fundraise. In early stages, this is often based more on progress, team, and market than on traditional financial metrics.
• Pre-Money vs. Post-Money
  • Pre-money: Your company’s valuation before new capital is invested
  • Post-money: Your valuation after the new money comes in
    This distinction matters a lot for understanding dilution.
• Dilution: The percentage of ownership founders give up when they raise capital. More money or a higher valuation doesn’t always mean less dilution — structure matters.
• SAFE (Simple Agreement for Future Equity): A popular early-stage investment instrument that delays setting a valuation until a future priced round. Simple in theory, nuanced in practice.
• Convertible Note: A loan that converts into equity later, usually at a discount or valuation cap. Older than SAFEs and still common, especially with certain investors.
• Valuation Cap: The maximum valuation at which an investor’s SAFE or note will convert. Lower caps are better for investors; higher caps are better for founders.
• Discount: A percentage reduction applied to a future valuation to reward early investors when their investment converts.
• Priced Round: A funding round where the valuation is explicitly set and equity is issued immediately. More complex, but often clearer once companies reach later stages.
• Progress-Driven Investing: Scot’s way of describing how early-stage investors price risk: capital is deployed based on company progress (traction, learning, momentum), not perfection.
• Founder-Market Fit: How well a founder’s background, experience, and insight align with the problem they’re solving. This often plays an outsized role in very early valuations.

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West.

We couldn’t share posts like this without our amazing sponsors:

Gold Sponsors:

• Balentine: https://www.balentine.com/triangle-entrepreneurs
• EisnerAmpner: https://www.eisneramper.com
• Robinson Bradshaw: https://www.robinsonbradshaw.com

Silver Sponsors:

• Automated Consulting Group: https://automated.co
• Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html

2025 Sponsors:

• Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In Part 2 of this two-part deep dive, Triangle Tweener Talks host Scot Wingo sits down with legendary Triangle founder Mike Doernberg to explore his journey on scaling multiple companies, spinning out new ventures, navigating private equity, and why he never left North Carolina.

Tune in to hear:

• How ReverbNation grew from a side project into a 6M-artist platform
• The spin-out journey behind Adwerx, and why it worked
• Mike’s framework for identifying spinoff opportunities inside existing companies
• Why the team is the company, and why incubated teams can struggle
• The origins of PlayMetrics and the youth-sports system-of-record vision
• How Mike navigates private equity without losing culture or control
• What PE adds that venture capital often can’t
• What it’s like to scale from 25 people to 450+
• Mike’s long view on the Triangle startup ecosystem, then vs. now
• Why he never moved to the Bay Area
• Whether a Mike-led venture studio might be next 👀

Where to Find Mike Doernberg:

LinkedIn: https://www.linkedin.com/in/michaeldoernberg/
PlayMetrics: https://home.playmetrics.com/

Where to Find Scot Wingo:

• LinkedIn: https://www.linkedin.com/in/thescotwingo/
• Tweener Times: https://www.tweenertimes.com/
• X: https://x.com/scotwingo

In this episode:
00:05 — Welcome to Part 2 with Mike Doernberg
00:12 — Coming back from “Home Depot retirement”
00:18 — The origin and explosive growth of ReverbNation
00:27 — Solving the cold-start problem before it had a name
00:33 — Building Promote.it → the foundation for Adwerx
00:42 — Spinning out Adwerx and structuring the deal
00:52 — Should Mike run a venture studio? Scott pushes him
01:00 — Why incubating ideas is easier than incubating founders
01:10 — The spinout challenge: talent dilution
01:15 — The path to PlayMetrics and modernizing youth sports
01:27 — Selling Reverb to focus fully on PlayMetrics
01:38 — Navigating private equity the right way
01:47 — How PE can empower (not suffocate) founders
01:55 — Running a 450-person org and learning a new leadership mode
02:03 — Why Mike stayed in the Triangle — and how the ecosystem evolved
02:16 — Triangle vs. Bay Area: culture, risk, and quality of life
02:30 — Final reflections & Scott’s challenge on a future venture studio
02:38 — Outro & sponsor thank-yous

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West.

We couldn’t share posts like this without our amazing sponsors:

Gold Sponsors:

• Balentine: https://www.balentine.com/triangle-entrepreneurs
• EisnerAmpner: https://www.eisneramper.com
• Robinson Bradshaw: https://www.robinsonbradshaw.com

Silver Sponsors:

• Automated Consulting Group: https://automated.co
• Bank of America: https://business.bofa.com/en-us/content/technology-industry-group.html

2025 Sponsors:

• Extensis HR: http://www.extensishr.com/

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

In Part 1 of this two-part deep dive, Triangle Tweener Talks host Scot Wingo sits down with legendary Triangle founder Mike Doernberg to explore the earliest chapters of his career, from CPA to multi-exit entrepreneur.

Mike walks through the founding of Marathon, the rise of early PC-driven consulting, the creation and spinout of SmartPath, raising capital through the old-school angel gauntlets, navigating the DoubleClick acquisition, and why “retirement” lasted all of three months.

Tune in to hear:

• What the early startup ecosystem looked like before the Triangle was “the Triangle.”
• The origins of Marathon and how the rise of PCs and early web consulting created new opportunities.
• How a project inside GlaxoSmithKline became the spark that turned into the SmartPath product.
• Mike’s philosophy for spinning out products successfully, and why strict separation is essential.
• Raising capital in the 90s and early 2000s: angel gauntlets, tough rooms, and memorable TIG stories.
• The SmartPath exit to DoubleClick and why Mike now believes they sold too early.
• How exiting young led him to a very short-lived “retirement” and why founders struggle to sit still.

Where to Find Mike Doernberg:

LinkedIn: https://www.linkedin.com/in/michaeldoernberg/
PlayMetrics: https://home.playmetrics.com/

Where to Find Scot Wingo:

• LinkedIn: https://www.linkedin.com/in/thescotwingo/
• Tweener Times: https://www.tweenertimes.com/
• X: https://x.com/scotwingo

In this episode:
01:02 – Mike’s early background & move to NC
03:30 – Becoming a CPA but wanting more
05:54 – Early exposure to startups at Ernst & Young
07:50 – Why entrepreneurship became inevitable
09:50 – Story of Burl Software and Y2K
12:10 – How Marathon was formed
13:22 – Rising PC adoption and early web consulting
14:51 – Early e-commerce and building internet applications
17:00 – How the GlaxoSmithKline project inspired SmartPath
19:06 – The power of deeply understanding a customer problem
20:34 – Building early commerce & workflow applications
23:40 – SmartPath as an early low-code platform
24:59 – Why selling SmartPath was his biggest mistake
26:00 – Raising venture in the 90s & 2000s
28:20 – The TIG pitching gauntlet
30:00 – A founder’s early-career fear of the unknown
31:10 – The SmartPath exit to DoubleClick
33:00 – Life at DoubleClick & post-acquisition changes
35:20 – Mike retires for 3 months (Home Depot era)
36:50 – Why founders struggle not to build
38:45 – The addiction and community of company building

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West.

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

Mark Flickinger is the COO and General Partner at BIP Ventures, one of the Southeast’s most active venture firms. Based in Atlanta, Mark brings a rare dual perspective, an operator who scaled startups before joining the investing side. Since 2015, he’s helped BIP expand from an Atlanta-centric firm into a major player across the Southeast and Midwest.

Every year, BIP Ventures releases its State of Startups in the Southeast report, arguably the most comprehensive snapshot of our region’s innovation economy. In this episode, Scot sits down with Mark to break down the 2025 findings, from AI and valuations to where the capital is really flowing.

Tune in to hear:

• How the State of Startups in the Southeast report came to be, and why it’s become a key annual benchmark for founders and investors.
• The Southeast’s steady growth amid national volatility, and what that says about the region’s resilience.
• Why North Carolina now ranks #2 for capital invested, with a healthy mix of early, mid, and late-stage deals.
• The rise of AI-driven startups, not in infrastructure, but in real applied use cases driving revenue.
• Which investors and funds are most active across the region, from Triangle Tweener Fund to Hatteras, IdeaFund, and CoFounders Capital.
• How Atlanta continues to anchor Georgia’s innovation scene, with momentum in cybersecurity, fintech, and healthcare tech.
• Why balanced growth across industries is dampening volatility and attracting new waves of talent and capital.

Where to Find Mark Flickinger:

LinkedIn: https://www.linkedin.com/in/mark-flickinger-24295538/
BIP Capital: https://www.bipcapital.com/

Where to Find Scot Wingo:

• LinkedIn: https://www.linkedin.com/in/thescotwingo/
• Tweener Times: https://www.tweenertimes.com/
• X: https://x.com/scotwingo

In this episode:
02:00 – Meet Mark Flickinger & the BIP Ventures origin story
05:30 – How the State of Startups report began
10:00 – What makes the Southeast data different
15:00 – Why the 2025 report matters
18:00 – Trends: AI, capital concentration, and valuation health
23:00 – The Southeast’s unique resilience
27:00 – North Carolina’s rise to #2 in regional investment
31:00 – Triangle Tweener Fund and other active players
37:00 – Atlanta’s current momentum and industry strengths
42:00 – What founders should take away from the data
46:00 – Closing thoughts and Mark’s advice for founders

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This episode of Triangle Tweener Talks is hosted by Scot Wingo, presented and produced by Triangle Tweener Fund, with creative assets and design support from Walk West.

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/

From the world of tech startups to the high-stakes world of sneakers, Walk West CEO and founder Greg Boone is a serial entrepreneur with a unique journey. With a background in computer science and a history of building and investing in companies, Greg brings a fresh perspective on how to navigate the current "AI tsunami."

Tune in to hear:

• Greg's entrepreneurial journey, from his computer science degree at North Carolina A&T to his early career at IBM and his ventures in everything from the bar industry to e-commerce.
• How his marketing agency, Walk West, is growing 30-40% year over year by helping clients adapt to a world where AI has disrupted traditional go-to-market strategies.
• His "Four P" framework for growth: Podcasts, Partnerships, Paid Media, and Public Relations, and why being "seen, heard, and cited" is critical for success in the age of AI.
• The concept of "personality-led growth" and why building trust and a personal brand is essential when abstract brands and ideas are losing their hold.
• Greg’s love for sneakers and what he collects.
• A fascinating conversation about Michael Jordan's business acumen, his brand effect, and his successful ownership of the Charlotte Hornets.
• The "Blockbuster moment" for Google and why they had no choice but to embrace AI.

Where to Find Greg Boone:

LinkedIn: https://www.linkedin.com/in/gregboone/

Walk West: https://walkwest.com/

Where to Find Scot Wingo:

LinkedIn: https://www.linkedin.com/in/thescotwingo/
Tweener Times: https://www.tweenertimes.com/
X: https://x.com/scotwingo

In this episode:

(00:06:00) The evolution of Walk West from a marketing agency to a content studio.

(00:10:00) Greg’s "Four P" framework for business growth.

(00:16:00) Greg's entrepreneurial journey, including his background in computer science and his various ventures.

(00:23:00) A deep dive into sneaker collecting and the business of Michael Jordan.

(00:32:00) Walk West's growth and the importance of partnerships.

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Triangle Tweener Talks is hosted by Scot Wingo, presented by Triangle Tweener Fund, and produced by Walk West.

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/