The Recursive Podcast

Our guest is on a quest to redefine the way businesses collaborate and work with data in the cloud.

With more than 20 years of experience in building successful enterprise software products, George Dochev is the co-founder and CTO of US-Bulgarian scale-up LucidLink. 

The company’s solution is used by the biggest names in the media, health, and finance industries, namely Adobe, Spotify, and WebMD. 

At the end of 2023, LucidLink closed the largest round for the Bulgarian ecosystem - a 75M dollars Series C. 

Is LucidLink on its way to becoming the next Bulgarian unicorn? Watch the episode to find out for yourself. 

In this conversation with George Dochev we unpack some of the big questions around scaling and growing a company to a multibillion dollars business: 

 *This episode of The Recursive Podcast is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.

Our guest is only 27 years old but he already has several successful ventures in the e-commerce industry. Ruslan Leteyski founded his first company while still in high school. 

He’s the founder of CheckOutX and Vanga AI, e-commerce solutions for Shopify & WooCommerce that help merchants increase their revenue. 

His current project TimeCraft is a platform for providing session-based digital services. 

Ruslan Leteyski is also an active angel investor. Some of the businesses he supported include CloudCart, Klear, Puzl Coworking, and CoLiving Semkovo.  

In this episode, we follow his journey in building, scaling, and exiting profitable businesses in the e-commerce industry - from CheckOut X becoming the industry's top checkout alternative to being rejected by Shopify, through the challenges of transitioning to a WooCommerce ecosystem. 

The episode is packed with actionable insights on: 

In his conversation with Irina, Ruslan Leteyski introduces his latest project TimeCraft, a platform designed to streamline and support various session-based services such as coaching, therapy, and teaching. Leteyski aims to empower individuals to monetize their time effectively and to provide freedom for service providers.

Ruslan Leteyski is also a prominent critic of the prevalent startup culture's fixation on fundraising and the misconception that raising capital equates to success. He advocates building a solid business model and addressing real market needs rather than solely chasing investment rounds. And urges the media to cover and recognize the stories and potential of bootstrapped companies more often. 

 *This episode of The Recursive Podcast is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.

Time Stamps: 

0:00 Introduction 

01:17 Curiosity Fuels Entrepreneurial Journey

03:39 Building a Profit-First Mindset 

8:56 E-commerce Disruption: The Rise and Fall of CheckOut X

12:00 Navigating the Shift from Shopify to WooCommerce Ecosystem

18:15 The Product Validation Journey: Balancing Vision with Customer Feedback

26:56 Vanga AI: Lessons Learned From the Transition and Exit 

32:15 TimеCraft: Redefining Session-Based Services in the Digital Era

43:11 The Digital Nomad Lifestyle and the Future of Remote Work

52:12 Why Startup Success Shouldn't Revolve Around Investment Rounds

59:10 Outro

In today's special episode, we're breaking away from the norm to revisit some of our most memorable conversations and catch up with our guests to see where life has taken them since.

Our next guest is on a quest to unlock the code of longevity.  

Milena Georgieva is a molecular biology, genetics, and epigenetics professor at the Bulgarian Academy of Sciences. 

She is also a Co-founder and Chief Scientific Officer at the startup company EPIX.AI. 

In her role, Prof. Georgieva is in charge of R&D activities and manages a group of experts working to understand aging processes and create instruments to measure biological age and extend the human lifespan. 

The conversation spans from the genesis of Prof. Georgieva’s fascination with molecular biology, genetics, and epigenetics. 

The discussion delves into the current state of genetic research and the mission of EPIX.AI, emphasizing the importance of health span over the lifespan. She explains how their interdisciplinary team leverages biological data, genetics, and epigenetics to create personalized prevention protocols for age-related diseases to extend healthy lifespans.

EPIX.AI, as its name suggests, deploys AI and ML algorithms, to decipher genetic triggers and organize and utilize effectively the abundance of health data. 

Prof. Georgieva expresses the necessity for a cohesive ecosystem integrating scientific breakthroughs into practical applications, pointing out the gap between research and its implementation in business. She advocates for a shared language and collaborative mindset between the scientific, business, and governmental sectors to bridge this divide.

Watch the episode to learn more about: 

*The Recursive Podcast is excited to announce that this episode is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.

Time Stamps: 

00:00 Introduction 

01:27 Unraveling Life's Code: First Steps into Molecular Biology & Genetics

05:10 Bridging the Gap: Integrating Science and Business in Genetic Research

12:35 From Lab Discoveries to Entrepreneurial Impact

17:00 Nature's Blueprint, Nurture's Influence: Understanding Genetics and Epigenetics

30:59 EPIX’s Mission to Revolutionize Aging

42:15 2024: EPIX’s Roadmap to Personalized Health Transformation

47:10 The Future of Healthcare: From Treatment to Prevention and Precision

52:46 Decoding Stress: Understanding Its Diverse Impact on Health

58:58 The Power of Listening to Your Body

1:04:46 Outro 

Our next guest is a dedicated engineer looking for solutions to reduce harmful emissions and popularize hydrogen technologies.

The Recursive Podcast is excited to announce that this episode is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.

Hello, The Recursive Community! We are back from our summer break and today we are taking you on a journey to Bucharest and inside the mind of a seasoned investor. 

Marius Istrate is currently the Chairman of the Board of TechAngels Romania, an investors' community planning accelerated growth after a decade on the market. He is also a Venture Partner at 3VC and Crew Capital.

Among the companies he invested in are FlowX.AI, parol, Carsup, Snackable AI, Transition-One, Romania-Insider.com, Younichoice, SmartDreamers, Bunnyshell, OxidOs. 

In his previous modus operandi, Marius was an entrepreneur himself, CTO, and CEO at various IT companies. He also took on the role of Chief People Officer at the Romanian unicorn UiPath, leading the company's growth from 100 people to 3K.

In a conversation with our Country Lead in Romania Elena Vrabie, Marius discusses the transition from being an entrepreneur to an investor, highlighting how his experience at Uipath shaped his thinking, but also the importance of embracing change and gaining diverse experiences in the business world.

“One of the things that people appreciate about working with me today is that I'm capable of asking questions from different angles that they haven't really thought about before”, he explains.  

Marius reflects that the most rewarding aspect of his work as an investor is the opportunity to continuously meet and learn from people with diverse backgrounds, values, and perspectives.

Join Elena and Marius’ conversation as they explore the value of education today, what it means to be a decent human being, and why founders should explore life in different cultural contexts.

Join us in our latest podcast episode as we delve deep into the realms of leadership, mental health, and authenticity together with Velina Getova, founder of NotYourTherapy, which provides psychological support in the workplace.

Join us in our latest podcast episode as we explore the journey of Svilen Rangelov, the co-founder and CEO of Dronamics, the world's first cargo drone airline. 

Svilen's passion for fast, affordable, and green freight is transforming the way goods are moved across the globe. 

Dronamics is the company he co-founded with his brother Konstantin in 2014 and in this episode, Svilen shares the story of how they built Dronamics from the ground up, overcoming nearly 700 rejections, plenty of skepticism, and challenges in the tech industry. 

Dronamics develops and operates large, long-range drones built specifically for cargo to serve a variety of industries: from pharma to food, from e-commerce to spare parts.  

Their full-scale flagship drone, the Black Swan, recently successfully completed  its first test flight.

In his conversation with Irina, Svilen explains the vision behind creating an airline, rather than just a product, to offer same-day delivery services over long distances.

The CEO of Dronamics delves into the strategic decision of starting the company in Bulgaria, a contrarian bet that turned into a talent filter for those deeply committed to the vision. Svilen shares insights on how their hands-on approach and commitment to innovation led them to build their own equipment and machinery, creating a solid foundation for growth.

Svilen opens up about Dronamics' long-term vision, aiming to turn the company into a generational one, making a positive impact on a global scale.

Svilen and his team aim to continue innovating =  the aviation industry, redefine logistics, and democratize access to rapid and reliable goods delivery

Our next guest is a well-known entrepreneur and investor in the Romanian IT industry. 

Andrei Pitis has 30 years of experience in tech. He was one of the first official Linux contributors in Romania and co-founder of RoEduNet, a network that offered free internet to students.

Later, Andrei founded Vector Watch, a Romanian start-up that produced the first Romanian smartwatch. The company was later acquired by Fitbit, where Andrei held various positions including VP of Engineering and VP of Product. 

In the meanwhile, Andrei invested as an angel in CleverTaxi that got acquired by MyTaxi.

Later, Andrei founded Simple Capital, a private investment vehicle supporting local startups with global aspirations.

As an active angel investor and mentor, Andrei is the president of ANIS (The Romanian Employers' Association of the IT&C industry), an associate professor at the Politehnica University of Bucharest, and a creator of educational programs like Innovation Labs. 

In his conversation with Irina, Andrei walks us through his long journey in the tech industry, having witnessed many shifts from the first programming languages to the dot-com bubble, the 2008 global financial crisis, to the emergence of AI and blockchain. 

He offers his insights on the cyclical nature of technology's evolution, the importance of branding for building a successful tech business, and why launching your product globally from the start is the way to go for entrepreneurs from the CEE region. 

In this episode, he also talks about: 

Today on The Recursive Podcast we get to find out more about revolutionizing in-store advertising with robots.

Ionut Vlad is the co-founder of Tokinomo, a technology company that uses sensors, motion, light, and sound, to bring shelf products to life and increase shopping engagement. 

No wonder the startup which produces in-store marketing robots has received various awards, like “Impact Star” by Deloitte, and “Most Inventive Startup” by La French Tech Romania.  

With a background in graphic design and fine arts, Ionut honed his craft as an Art Director at Saatchi & Saatchi before launching his own game-changing project.

As Ionut Vlad shares in his conversation with Elena Vrabie, it was his creativity that eventually led him to a tech solution of a marketing problem - how to make products visible and attract shoppers’ limited attention spans in stores. 

“I noticed something quite interesting - my creativity helps a lot because I think the best engineers have this creative approach to things, otherwise they wouldn't invent stuff. If you are kind of a stickler for the rules, you will always come up with the same stuff. If you're creative and you're trying to bypass certain obstacles, then the creative mind comes into play”, Ionut Vlad says.  

In the episode, Elena and Ionut Vlad also discuss: 
🛍️ The Psychology Behind Shopping Decision-Making; 
🧲 Do opposites attract in a co-founding team?  
👂 Listening to feedback vs. following one’s original ideas to solve problems;
😳 How to be a successful founder if you’re an introverted person?