Startups Decoded

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Matthew Burris joins Startups Decoded to unpack how venture studios are evolving from a misunderstood startup model into a formal, fundable asset class.

We explore what’s missing from today’s narrative, the standards being built behind the scenes, and what it will take to legitimize venture studios in the eyes of institutional capital. This is a conversation about quality, vision, and opportunity — and why the next wave of innovation infrastructure might look more like a studio than a fund.

Matt Burris 

A leading voice in the global venture studio ecosystem. As a Partner at Venture Studio Associates, he collaborates with studios managing over $500 million in assets, providing strategic guidance on design, operations, and scaling.​

Through his Substack newsletter, Venture Studio Perspective, Matthew shares in-depth analyses and insights drawn from his study of more than 500 venture studios worldwide.​

With a background that includes organizing and mentoring at Startup Weekends across Indiana, where he worked with over 450 aspiring entrepreneurs, Matthew brings a wealth of experience in turning ideas into viable businesses.

Matthew is passionate about demystifying the venture studio model and helping founders and investors make informed decisions through proven frameworks.​

The Venture Studio Forum

A global nonprofit trade association dedicated to advancing the venture studio model as a recognized and impactful asset class in the startup ecosystem. It serves as a central hub for studio operators, investors, and ecosystem supporters, providing resources, research, and a collaborative community to foster the growth and success of venture studios worldwide.​

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

Summary

In this episode of Startups Decoded, Andy Walsh interviews Matt Burris about the evolving landscape of venture studios. They discuss the history, current market perception, and the challenges faced by venture studios as an asset class. Matt shares insights on the Venture Studio Forum, the importance of validation in the startup process, and the development of the Venture Studio Index. The conversation also touches on equity models and the future of venture studios in the investment ecosystem.

Chapters

00:00 Introduction to Venture Studios

03:08 The Evolution of Venture Studios

05:20 Current Market Perception of Venture Studios

07:07 The Venture Studio Forum

09:33 Defining a Venture Studio

11:03 The Role of Automation in Startups

13:46 The Importance of Validation

15:04 The Stages of Building Companies in a Studio

17:34 Balancing Intuition and Data

20:44 Creating Standardized Reports for Investors

22:49 Gathering Insights and Data from Studios

26:15 Identifying Studio Challenges

27:41 The Venture Studio Index Explained

30:58 Evaluating Studio Roles and Strategies

36:08 Understanding Operator Equity Models

40:41 Investor

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In this episode of Startups Decoded, Kevin Jurovich (Founder & CEO of Hubble) joins me to unpack the raw, early-stage lessons no one talks about enough: compromise, confusion, burnout, and the clarity that comes after blowing it all up and starting again.

From an NFL career, to winging it and rebuilding from scratch, to embracing paid consulting and learning how to truly see people, Kevin shares the messy truth behind his pivot journey and how he finally stopped trying to be “right” and started building to get it right.

We talk about the real hustle behind Hubble, the weight of early inbound growth, and the mindset shifts it takes to survive long enough to build something meaningful.

Kevin Jurovich:

Founder & CEO of Hubble, a platform helping creators and domain experts turn their knowledge into income, and more importantly, impact.

A former NFL wide receiver turned wealth advisor turned founder, Kevin’s journey into startups began in 2013 while serving tech entrepreneurs in Silicon Valley. Since then, he’s been all-in on building, scaling, and mentoring within the startup ecosystem. He’s on a mission to inspire others to do more of what inspires them—and to shape a future where expertise becomes a catalyst for opportunity.

Hubble

Empowers creators and experts to monetize their knowledge through experiences, services, and products, without needing a massive following. It’s designed for those with real expertise, not just social reach, and gives them the tools to grow, serve, and scale their audience through authenticity and value.

At its core, Hubble is about transforming expertise into impact, helping people build meaningful, sustainable income from what they know and love.

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

Summary

In this conversation, Kevin Yurovich shares insights into the mindset and self-awareness required for founders. He discusses his journey from being an NFL player to becoming a startup founder, emphasizing the importance of community, vulnerability, and learning from failures. Kevin highlights how leveraging platforms like LinkedIn can foster growth and connections, and he elaborates on the development of Hubble, a marketplace for expert advice. The discussion underscores the significance of adaptability and the iterative nature of entrepreneurship.

Takeaways

The older we are, the more we tend to care less about what other people think.

You gotta leave the shore; have the courage to go all in.

There's no such thing as a self-made individual; it takes a village.

Confidence comes from the little things we tell ourselves.

Failure is not finite; it's a point in time where you learn something.

We are not here to be right; we are here to get it right.

The MVP you launch has to work and solve a problem.

If you're passionate about it, start getting it out there.

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In this episode, we explore why the best founders don’t wait for perfect plans—they launch, learn, and build in public. 

From early growth hacks to fast feedback loops and sales that start before the product’s finished, we unpack what it really takes to grow quickly and stay ahead. If you're stuck planning instead of building, this one will light a fire.

Cory Blumenfeld

Cory Blumenfeld is a seasoned entrepreneur and business strategist with a passion for empowering individuals to find their voice and start their own ventures. He has co-founded multiple startups, including CoHealth, a digital platform promoting healthy behavior change, and Caribou, a healthcare planning software for financial advisors that raised over $3 million in funding. 

Currently, Cory serves in Strategy Operations at LearnLux Financial Wellbeing, applying his diverse experience to enhance financial wellness solutions. A graduate of Wilfrid Laurier University and a Next 36 alumnus, Cory is dedicated to inspiring and guiding aspiring entrepreneurs through his insights and leadership.

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

In this episode of Startups Decoded, Andy Walsh and Corey Blumenfeld discuss the concept of building in public, exploring its significance in the startup ecosystem. Corey shares his journey as a founder, emphasizing the importance of storytelling, authenticity, and the power of relationships in business. They delve into the balance between sharing ideas publicly versus keeping them private, the necessity of validation and testing in product development, and the role of trust and vulnerability in fostering a successful team culture. The conversation also touches on how effective storytelling can attract investment and the long-term benefits of building genuine connections within the entrepreneurial community.

Takeaways

Building in public allows for authentic connections.

Storytelling is crucial for engaging with audiences.

Validation through testing is essential for success.

Trust and vulnerability foster a positive team culture.

Investors are interested in the founder's story and decisions.

Sharing experiences can lead to unexpected opportunities.

Building relationships is key to long-term success.

The future of selling lies in genuine storytelling.

You can learn from every interaction, regardless of experience.

Being respectfully assertive is important in business.

Sound Bites

"You can learn from every single person."

"You need to be respectfully assertive."

"The future of selling is storytelling."

Chapters

00:00 Building in Public: A New Era for Startups

05:02 The Journey of Entrepreneurship: Lessons Learned

08:55 The Power of Sharing Your Story

11:41 Learning from Every Interaction

14:19 Building Relationships in a Digital Age

16:45 Transparency vs. Stealth: The New Norm

18:57 Testing Fast: Validating Ideas Quickly

23:51 The Importance of Hypothesis Testing in Business

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Angel investors are no longer just writing checks – they’re becoming strategic advisors, board members, and even fractional executives. 

But how do founders attract the right angel investors who bring more than money to the table?

Tony Kula

Tony Kula is a seasoned entrepreneur with over three decades of experience in the communications sector. He has successfully founded and exited multiple companies, navigating both bootstrapped and venture capital-backed ventures. Now based between the south of France and Berlin, Tony is dedicated to sharing his entrepreneurial insights through mentoring and angel investing. With a human-centric approach to business, he brings a wealth of knowledge in scaling startups, building impactful networks, and fostering sustainable growth. Outside of business, Tony is an avid triathlete and a devoted family man.

Tony Kula has built a career around creating and scaling communications-focused ventures, leveraging his extensive industry expertise to drive innovation and market success. With a proven track record of both bootstrapped and VC-backed exits, Tony now channels his entrepreneurial energy into supporting the next wave of founders as a mentor and angel investor. His ventures have spanned digital media, telecommunications, and strategic communications, each with a focus on transformative growth and long-term impact. Today, he continues to foster connections and opportunities for founders across Europe, combining his business acumen with a passion for community and mentorship.

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

In this episode of Startups Decoded, host Andy Walsh engages with angel investor Tony Kula, who shares his extensive journey from an early career in IT to becoming a successful entrepreneur and angel investor. Tony discusses the importance of building relationships in the investment space, the lessons learned from his own experiences, and the evolving landscape of angel investing. He emphasizes the need for founders to demonstrate traction and financial discipline while also highlighting the significance of authenticity in storytelling. The conversation concludes with insights into the future of investing and the importance of supporting the next generation of founders.

Takeaways

Tony Kula's journey from IT to entrepreneurship is marked by a desire for independence.

Angel investing involves learning from mistakes and adapting strategies over time.

Building relationships with investors is crucial for founders seeking funding.

Authenticity and transparency in storytelling are vital for successful pitches.

Investors look for financial discipline and traction in startups before investing.

The landscape of angel investing is evolving, with a shift towards profitability over rapid growth.

Founders should focus on building genuine connections rather than just seeking capital.

Diversity in an investment portfolio is essential for angel investors.

The importance of mentorship and support for young founders cannot be overstated.

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Chris Tottman, Founding General Partner at Notion Capital, shares how collaboration between radically different thinkers — founders, investors, and operators — creates force-multiplying outcomes. 

This episode explores why the best startups aren't built solo, how pattern recognition meets founder intuition, and why energy alignment matters more than experience at early stages.

Chris Tottman

Founding General Partner at Notion Capital ($1B+ AUM), where he backs exceptional B2B SaaS founders and helps shape go-to-market strategy at scale. He’s the founder of Included.vc, AlphaGraph.club, and TheFoundersCorner newsletter, and the author of The GTM Handbook for B2B SaaS Leaders and the wildly candid BrainDumps series.

A serial investor in over 500 founders, Chris is also an active advisor to leaders and companies across stages. Beyond venture, he invests through his family office with a growing interest in super rare classic cars.

When he’s not investing, you’ll find him coaching, creating, and collaborating with the kind of brilliant, incrementalist founders who value long games and thoughtful growth — often referred by close-knit networks or discovered in unexpected corners of the internet.

NOTION Capital

A venture capital firm specializing in European SaaS and cloud startups. With over 100 investments to date, Notion backs exceptional founders with long-term capital and hands-on support through its value-add platform — helping build category-defining companies from seed to scale.

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

“We don't want to be concerned about Founders solving the problems that have been solved many times before.”

In this episode of Startups Decoded, host Andy Walsh engages in a deep conversation with Chris Tottman from Notion Capital about the critical relationship between founders and investors. They explore Tottman's journey into venture capital, the importance of understanding founder dynamics, and the evolving landscape of startup investment, particularly in the context of AI. 

Tottman shares insights on investment strategies, the significance of empathy in investor relationships, and the need for founders to solve unique problems. The discussion also touches on the balance between intuition and data in decision-making, the importance of differentiation in the market, and the value-added infrastructure that can support founders in their journey.

Chapters

00:00: Introduction to Founder-Investor Fit

03:06: Chris Tottman's Journey into Venture Capital

05:42: The Role of Founders in Venture Capital

08:29: Notion Capital's Investment Strategy

11:15: The Impact of AI on Investment Opportunities

13:12: Navigating Hype Cycles in Technology

15:09: The Evolution of Investor-Startup Relationships

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Venture Studios are evolving, and Nobody Studios is at the forefront of building AI-native startups. 

In this episode, we explore how AI is redefining startup-building strategies, workflows, and execution. Mark S. McNally shares insights on what it takes to run an AI-driven venture studio and why founders must rethink their approach to leadership, decision-making, and company growth in this new era.

Mark S. McNally

A visionary tech innovator and executive with a track record of scaling startups to global success, including IPOs. With deep expertise in AI, machine learning, and big data, he has founded and led multiple companies across e-commerce, banking, healthcare, and logistics. As CEO of Nobody Studios, he is redefining venture building through AI-driven innovation, leveraging decades of experience in product development, strategic partnerships, and global business leadership.

Nobody Studios

A venture studio committed to rapidly building 100 companies in five years, from ideation to full-scale validation. With a crowd-first, people-first approach, the team—comprising experts across industries like fintech, e-commerce, and data science—drives innovation through transparency and frugality. Embracing global collaboration, Nobody Studios launched a groundbreaking crowdfunding campaign, uniting 900+ investors from 55 countries to help shape the future of startup creation.

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

summary

In this episode of Startups Decoded, host Andy Walsh speaks with Mark S. McNally, CEO of Nobody Studios, about the evolution of startups, the impact of AI, and the innovative venture studio model. Mark shares his extensive background in startups, the challenges of fundraising, and the importance of soft skills in an AI-driven world. They discuss how the landscape of entrepreneurship is changing and the need for non-obvious business models that can thrive in the future.

Chapters

00:00: Introduction to Startups Decoded

01:50: Mark's Journey: From Special Operations to Startups

05:22: The Motivation Behind Nobody Studios

11:09: The Venture Studio Model: A New Approach

15:39: Navigating the Fundraising Landscape

19:55: AI's Impact on Startups and Future Predictions

24:12: Navigating the AI Era: Building Defensible Businesses

28:40: Non-Obvious Business Models: Future-Proofing Startups

34:38: The Importance of Soft Skills in an AI-Driven World

40:14: Transforming Startup Methodologies: Embracing Rapid Prototyping

44:19: The Future of Nobody: Scaling in the AI Landscape

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The best VCs aren’t just writing checks, they’re building products. In this episode, I sit down with Jason Shuman, General Partner at Primary Ventures, to explore how modern venture firms are evolving, from thesis-driven investors to full-stack operators.

Jason shares an inside look at fundraising in today’s market, what their next fund aims to do differently, and how Primary’s team structure challenges the traditional VC mold. If you’re building a startup, raising a fund, or working inside a platform team, this episode will give you a front-row seat to the future of VC as an evolving product.

Jason Shuman

Jason is a founder-turned-investor and General Partner at Primary Venture Partners, where he leads investments across Vertical AI, Built World, Vertically integrated manufacturing businesses and consumer. 

A passionate advocate for early-stage founders, Jason’s mission is to empower entrepreneurs with the confidence, tools, and support to build successful, fulfilling lives, on their own terms. He brings a hands-on, coach-like approach to investing, shaped by his own entrepreneurial journey. 

Outside of venture, Jason’s passions include coaching, travel, and great food. Always eager to connect, he's known for being an early believer and active partner to founders at the very start of their journey.

Primary Venture Partners

The largest early-stage VC firm in the world, managing $1B+ in assets with a 50-person team. Their standout "Impact" team, twice the size of the investment team, works hands-on with portfolio companies, driving growth through high-intensity support in hiring, customer acquisition, and fundraising. With deep roots in the NYC tech scene, they conduct thousands of interviews, host hundreds of events, and maintain a network of 5,000+ active job seekers. Co-founders Brad Svrluga and Ben Sun have been recognized on Forbes’ Midas List and Insider’s Seed 100.

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

keywords

venture capital, startups, Primary Ventures, Jason Shuman, founder support, investment strategies, bootstrapping, impact teams, incubation model, deal flow

summary

In this episode of Startups Decoded, host Andy Walsh interviews Jason Shuman from Primary Ventures, exploring his journey from founder to investor. They discuss the unique approach of Primary Ventures in supporting founders, the evolving landscape of venture capital, and the importance of resources and community in the startup ecosystem. Jason shares insights on the current trends in funding, the role of impact teams, and the incubation model at Primary Ventures, emphasizing the need for founders to have a clear roadmap and support system to succeed.

Chapters

00:00 From Founder to Investor: Jason Shuman's Journey

04:01 Understanding Primary Ventures: A Unique Approach to VC

07:28 The Evolving Landscape of Venture Capital

11:21 The Import

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Bringing people together is an art, and a strategy. In this episode, I sit down with Madelaine Czufin, founder of EOLO, to break down what it takes to build events and communities that truly drive impact.

We cover:

• How to build a network that activates around your brand
• Creating real ROI from events, not just a buzz
• The power of mindful networking (why it isn’t as intimidating as you may think) 
• Targeted partnerships and sponsorships that actually work

Madelaine brings insights from her experience in venture, tech, and finance, helping top firms craft experiences that elevate their brand presence.

If you’re thinking about events as just gatherings, you’re missing the bigger picture. Tune in to learn how to make them a core part of your strategy.

Madelaine Czufin

Madelaine is the Founder of EOLO, a boutique consultancy specializing in bespoke gatherings, events, retreats, summits, and other distinct experiences. 

Over the past decade, Madelaine worked at the intersection of venture, technology, and financial services. Prior to EOLO, Madelaine worked in financial services at Barclays, First Republic, and JPMorgan. She gained expertise within the venture capital industry during her time at Greycroft and leading the NY chapter of a female founder capital platform, The Vinetta Project. 

EOLO's mission is to help VCs, companies, and communities activate and elevate their brand presence through thoughtfully designed and meticulously executed events. 

Show Notes

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

The conversation delves into the importance of strategic networking and the intentionality behind connecting individuals in professional settings. It emphasizes the value of thoughtful relationships and collaborations that can lead to mutual growth and innovation.

Chapters

00:00 Introduction to Community and Connections

01:04:19 Madeline's Journey: From Finance to Venture Capital

01:08:03 The Evolution of Events and Gatherings

01:11:05 Creating Meaningful Connections at Events

01:15:14 The Art of Networking: Strategies for Success

01:19:38 The Power of Empathy and Vulnerability

01:21:19 Intentional Networking: Building Lasting Relationships

01:26:22 The Importance of Thoughtful Connections

01:28:01 Supporting Underrepresented Founders

01:30:04 The Shift in Networking Culture Post-COVID

01:34:21 Evolving Corporate Culture and Community Building

01:37:08 Optimizing Event Experiences

01:41:46 Maximizing Connections Pre and Post-Event

01:49:36 Intentionality in Event Planning

01:53:30 Navigating Digital Outreach and Automation

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In this episode, we talk to Majd Alaily, founder of Ruya Advisory, a consultancy that helps startups turn visionary ideas into thriving businesses. With 15+ years of experience in digital innovation, strategy, and product development, Majd shares valuable insights on navigating the startup journey.

We talk about building the right tech stack, choosing the right platform, and standing out in a crowded market. Majd also offers a sneak peek into his upcoming online course, BuildOS, launching in April. This episode is filled with actionable advice for founders looking to build, grow, and stand out in the competitive startup landscape. 

Tune in for an inspiring conversation on how to succeed in today’s world!

Majd Alaily

Majd is a seasoned digital innovator with over 15 years of experience in consultancy, startups, and strategic thinking. He specializes in helping startups thrive through ideation, building, growth, and fundraising strategies. As an advisor, Majd has supported 20+ ventures in launching, scaling, and securing funding. He’s a founder who grew a company to 970k monthly active users in just two years with 100% organic growth. Majd’s background includes leading business development and digital consulting at Google for portfolios worth $50M-$100M ARR. He’s conducted over 100 strategy and go-to-market workshops with top global brands and brings innovation expertise from prestigious programs like Stanford d.school and IDEO.U.

Ruya Advisory

Ruya Advisory is a forward-thinking startup consultancy focused on turning visionary ideas into successful businesses. Derived from the Arabic word for 'vision,' Ruya embodies foresight and aspiration. Going beyond traditional consulting, the firm offers strategic guidance to help startups navigate the journey from concept to execution. With a commitment to fostering innovation and growth, Ruya Advisory empowers entrepreneurs to shape the future, turning groundbreaking ideas into flourishing ventures.

Show Notes

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

Summary

In this episode of Startups Decoded, host Andy Walsh speaks with Mash Alaily about his journey from medicine to the startup world. They discuss the importance of learning from failure, the mindset required for resilience in entrepreneurship, and the role of RUYA Advisory in guiding startups. The conversation also covers the evolving landscape of product development, the impact of automation and agents, and the significance of personal engagement in sales strategies. Finally, they introduce Build OS, a new initiative aimed at helping founders validate their ideas quickly and effectively.

Chapters

00:00 Introduction to Startups and Global Perspectives

01:27 The Journey from Medicine to Startu

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In this episode of Startups Decoded, I’m joined by Mike MacCombie, partner at Generous Ventures, a NYC-based VC fund known for investing in founders who build with behavioral design in mind.

We explore how human behavior shapes startup success and dive deep into the subtle forces that guide (and misguide) founder decisions, from social anchoring to pattern recognition, from frameworks that help to those that hold you back.

The big conversations centered around;

• What early-stage VCs really look for in decision-making
• The traps founders fall into by following trends
• Why "easy" paths often lead to dead ends
• How to make better products and hiring calls by understanding behavioral cues
• The difference between one-way vs. two-way doors in startup choices

This episode isn’t about theory, it’s about how psychology meets startup execution and how founders can challenge conventional wisdom to build smarter, faster, and more intentionally.

Mike MacCombie

Mike MacCombie is a behavioral science-driven investor and community builder focused on accelerating startup growth. As a Partner at Generous Ventures, he works closely with early-stage founders to scale their companies, refine business development strategies, and navigate hiring and later-stage fundraising. 

With a deep passion for entrepreneurial communities, Mike has mentored at Techstars NYC and Quake Capital, helping emerging leaders sharpen their communication and connection-building skills. A self-proclaimed “community geek,” he specializes in curating opportunities that drive meaningful connections and business impact in the startup ecosystem.

Generous Ventures

Generous Ventures is a $10M pre-seed and seed-stage venture capital fund based in NYC, backing companies across the US and selectively abroad. They invest in founders with lean, iterative mindsets who prioritize distribution leverage as a key element of their company success.

They focus on applied behavioral design principles in the companies they back: building with the grain of human behavior for leverage in adoption at the customer level, distribution at the business level, and more efficient paths to revenue. 

SHOW NOTES

Music Credit: "Neptuno" - Phondupe (Album: Onykia)

Chapters

00:00 Foundations of Curiosity and Learning

05:34 Behavioral Science in Startups

11:36 Founder Types and Decision Making

13:06 Navigating Information Overload

15:33 The Rise of Bootstrap Founders

19:36 The Validation of Fundraising

20:09 The Role of External Validation

22:05 Understanding Internal and External Anchoring

25:40 The Dance of Intuition and Data

27:55 Mastering Decision-Making and Fear of Failure

32:05 One-Way vs. Two-Way Decisions

35:52 The Importance of Self-Awareness in Founding

41:08 Building Communities and Networking for