In this episode of the Ignite podcast, host Brian Bell interviews Kenneth Berger, a 20-year veteran in the tech industry, first Product Manager at Slack, and current executive coach. Kenneth shares his journey from the highs of startup success to the lows of being fired by a co-founder. This range of experiences led him to a pivotal moment of self-reflection, ultimately guiding him towards a career in executive coaching where he focuses on helping individuals manage their careers in a more sustainable and fulfilling manner.

Kenneth explains his coaching philosophy, emphasizing the importance of self-awareness and personal growth over direct advice. He discusses the common challenges faced by startup founders and executives, such as handling uncertainty, improving managerial skills, and avoiding burnout. Through his work, Kenneth aims to help clients navigate these issues by developing better self-understanding and adopting more sustainable work practices.

The conversation also delves into the symptoms of burnout and strategies for recovery. Kenneth highlights the importance of acknowledging feelings, self-reflection, and addressing fears as crucial steps towards managing burnout. He underscores the significance of maintaining a balance between personal well-being and professional growth, advocating for routines and activities that founders find enjoyable and sustainable.

In the rapid-fire segment, Kenneth shares insights on common mistakes startup founders make, recommends essential reading for leaders, and discusses his personal stress relief activities. He concludes by advising listeners to integrate personal well-being with professional ambitions, as the two are deeply interconnected. Kenneth's insights offer valuable guidance for anyone navigating the high-pressure world of startups, emphasizing the need for a balanced and self-aware approach to leadership and personal development.

Chapters:

• Introduction (00:01 - 01:34)
• Kenneth's Career Journey (01:35 - 05:03)
• Coaching Philosophy (05:04 - 09:49)
• Identifying and Combating Burnout (09:50 - 15:18)
• Importance of Self-Care (15:19 - 19:32)
• Leadership Challenges (19:33 - 25:42)
• Effective Delegation and Building Trust (25:43 - 30:14)
• The Power of Asking for What You Want (30:15 - 36:05)
• Rapid Fire Questions (36:06 - 39:02)
• Conclusion and Contact Information (39:03 - 39:46)

In this episode of the Ignite podcast, host Brian Bell welcomes Ken Sawyer, the founder and managing director of Saints Capital, to discuss the intricacies and opportunities within the world of venture capital and secondary investments. Ken provides a brief overview of his extensive experience in the venture capital sector, sharing his unique perspective on the evolution of the market over the past two decades. He highlights the critical moments in his career, including the founding of Saints Capital in 2000, just as the dot-com bubble burst. This timing, Ken explains, presented a unique opportunity to invest in promising companies with ample undeployed capital, setting the stage for Saints Capital's pioneering approach to secondary investments. Ken and Brian delve into the cyclical nature of market valuations, drawing parallels between the dot-com era and recent trends driven by advancements in artificial intelligence. Ken emphasizes the importance of secondary investments, especially in periods of market downturns, to provide liquidity and maintain the health of the venture ecosystem. He discusses the practicalities and strategic advantages of secondary investments, using examples from Saints Capital's portfolio to illustrate how timely liquidity can benefit both investors and portfolio companies. The conversation shifts to the dynamics of managing a venture fund, with Ken offering insights into the life cycle of venture funds and the growing relevance of continuation vehicles. He explains how these vehicles allow general partners to maintain their stakes and provide liquidity options for limited partners, thereby aligning interests and ensuring long-term value creation. Ken also touches on the complexities of secondary market transactions, including the challenges of pricing, the importance of maintaining comprehensive records, and the necessity of transparency and fairness in dealings. In the final segment, Brian and Ken discuss the future of venture capital and secondary markets. Ken predicts a significant expansion in the secondary market, driven by the increasing amount of capital invested in primary venture funds and the extended timelines for company exits. He concludes by highlighting the role of secondary investments in enhancing the venture capital ecosystem, ensuring liquidity, and fostering sustainable growth. The episode wraps up with rapid-fire questions, offering listeners a glimpse into Ken's inspirations and philosophies in the business world. Chapters:

00:01 - 00:20 - Introduction

00:21 - 00:33 - Ken Sawyer’s Background

00:34 - 02:13 - The Dot-Com Bubble and Founding Saints Capital

02:14 - 03:35 - Market Cycles and Valuations

03:36 - 05:28 - The Role of Secondary Investments

05:29 - 07:23 - Fund Lifecycle and Continuation Vehicles

07:24 - 09:09 - Managing Fund Assets and Liquidity

09:10 - 11:36 - Pricing and Valuation Challenges

11:37 - 14:41 - Investor and Entrepreneur Perspectives on Secondaries

14:42 - 17:24 - Market Inefficiencies and Arbitrage Opportunities

17:25 - 20:57 - Regulatory Environment and SEC Role

20:58 - 24:28 - Safeguarding Early-Stage Investments

24:29 - 27:37 - Challenges with Safe Notes

27:38 - 32:27 - Secondary Market Trends and Investor Advice

32:28 - 35:21 - Social Impact Investments

35:22 - 39:12 - Inspiration and Influences

39:13 - 42:58 - Preparing for Future Secondary Transactions

42:59 - 47:09 - Common Misconceptions About Secondaries

47:10 - 50:55 - Future Predictions for Venture Capital and Secondaries

50:56 - 53:17 - The Role of Secondary Investments in VC Ecosystem

53:18 - 56:33 - Rapid Fire Questions

56:34 - 57:52 - Closing Remarks

In this episode of the Ignite podcast, host Brian Bell interviews Susan Conover, the co-founder and CEO of Piction Health, an AI-powered virtual dermatology practice. Susan shares her journey from being a mechanical engineer to a healthcare entrepreneur driven by her personal battle with melanoma. Piction Health aims to provide accessible and efficient dermatological care using AI and a comprehensive database of skin, hair, and nail conditions. Susan's vision is to solve the end-to-end problem for patients by diagnosing, treating, and prescribing remotely, especially for those struggling to access dermatologists due to long wait times and economic barriers. Susan discusses the inception of Piction Health, highlighting the challenges of finding a co-founder and building a team. Interestingly, she met her co-founder in an improv class, which she believes fostered a creative and supportive environment essential for a startup. The company initially focused on connecting patients with doctors but pivoted to enhancing the diagnostic capabilities of primary care physicians through AI. This shift was driven by the need to address the broader issue of delayed dermatological care and was further accelerated by the COVID-19 pandemic, which increased the acceptance of remote healthcare solutions. Throughout the conversation, Susan emphasizes the importance of building a robust database to train their AI, partnering with dermatologists globally to ensure diversity in skin tones and conditions. Piction Health's approach has enabled dermatologists to manage significantly more cases than traditional methods, addressing the severe shortage of dermatologists in the U.S. The company's next steps involve expanding their services across all 50 states and potentially internationally, ensuring that expert dermatological care is accessible to everyone. The episode concludes with a discussion on fundraising, where Susan shares her strategies and experiences. She advises entrepreneurs to start with smaller commitments and iterate on their pitch, highlighting the importance of running a structured process. Susan's insights into the healthcare startup ecosystem, combined with her personal story and professional journey, provide valuable lessons for aspiring founders and innovators in the healthcare space. Chapters: 00:00 - 01:18 - Introduction 01:19 - 04:08 - Susan's Background and Journey 04:09 - 07:35 - Founding Piction Health 07:36 - 11:22 - AI and Data Collection 11:23 - 14:17 - Pivoting and Growth 14:18 - 17:12 - Challenges of Finding a Co-Founder 17:13 - 20:01 - Scaling Virtual Care 20:02 - 23:02 - Fundraising Insights 23:03 - 26:28 - Future Vision for Piction Health 26:29 - 30:01 - Importance of Mentorship and Networks 30:02 - 33:17 - Proactive Healthcare and Technology 33:18 - 35:29 - Rapid Fire Questions 35:30 - 38:40 - Closing Thoughts and Contact Information