The Capital Stack David Paul

Nathan Firth, founder and CEO of New Rocket, founder of LaunchPad San Diego, and current CCO of ShareLogic shares his journey as an entrepreneur and the success of his tech-enabled service company with venture capitalist David Paul. He emphasizes the importance of finding a niche market and specializing in one thing to become the best at it. Firth discusses the benefits of being a tech-enabled service company and how they productize their services to increase efficiency and deliver more value to customers. He also talks about the challenges of scaling a company and the lessons he learned along the way. Firth is now exploring new opportunities and investing in startups. You can watch/listen to the podcast on YouTube, Spotify, and Apple.
Takeaways
Finding a niche market and specializing in one thing can lead to success as an entrepreneur.Productizing services can increase efficiency and deliver more value to customers.Scaling a company comes with challenges and requires careful allocation of resources.Exploring new opportunities and investing in startups can lead to new ventures and growth.
Sound Bites
"Find a niche market, specialize, and be the absolute best at doing that one thing.""Productizing our services made us more efficient and allowed us to deliver more value to customers.""Finding the right balance in company size can maintain agility and a startup culture."
Chapters
06:10 The New Rocket Story
08:03 Niche Market and Productization

14:01 Lessons in Scaling a Company

In this conversation, David Paul interviews Quentin Wendt from PadSplit, a prop-tech company that allows investors to rent out single-family homes by the room. They discuss the housing crisis, the need for affordable housing, and how PadSplit provides a solution by adding density to single-family homes. Quentin explains how the platform works, with members going through a background check and income verification to become approved tenants. The platform handles demand aggregation, collections, and communication between members and investors. They also discuss the hesitation and pushback from investors and municipalities, as the concept of shared housing is still relatively new in the US. PadSplit offers a unique model for real estate investors to generate high returns and scale their businesses quickly. By converting single-family homes into shared living spaces, PadSplit provides affordable housing for essential workers and generates more cash flow and tax benefits compared to traditional rental properties. The company aims to solve the problem of affordable workforce housing and offers a faster and more profitable alternative to traditional real estate investments. PadSplit's model appeals to both investors and tenants, providing a win-win solution for all parties involved.
Takeaways
PadSplit is a prop-tech company that allows investors to rent out single-family homes by the room, providing a solution to the housing crisis and the need for affordable housing.The platform handles demand aggregation, collections, and communication between members and investors.There is hesitation and pushback from investors and municipalities due to the unfamiliarity of shared housing in the US.PadSplit's model allows investors to add density to single-family homes, increasing revenue and providing affordable housing options for low-income individuals.The platform is still in its early stages, but early adopters are finding success and building portfolios of income-producing properties. PadSplit offers a unique model for real estate investors to generate high returns and scale their businesses quickly.By converting single-family homes into shared living spaces, PadSplit provides affordable housing for essential workers.PadSplit generates more cash flow and tax benefits compared to traditional rental properties.The company aims to solve the problem of affordable workforce housing and offers a faster and more profitable alternative to traditional real estate investments.
Chapters
03:44 Introducing Quentin and PadSplit
07:30 What is PadSplit?

09:23 The Housing Crisis and Affordable Housing

12:02 Challenges in the Real Estate Market

20:13 Hesitation and Pushback in the Market

23:58 How the PadSplit Platform Works

26:06 The Importance of Property Managers

26:43 PadSplit: A Unique Model for Real Estate Investors

29:56 Solving the Problem of Affordable Workforce Housing

Sound Bites
"PadSplit is a five-year-old startup that allows investors to take single-family houses and add density by renting by the room.""PadSplit has almost 12,000 units across 20 markets in the country, and our hockey stick curve is starting.""PadSplit is a cashflow machine that allows investors to offset negative cashflow from other real estate investments.""It's a really fast way to scale your business because the returns are typically 2 and 1 half to 3 times returns on a normal long-term investment.""Does it break

In this conversation, David Paul and Matt Ekstrom - an executive with over 10+ years in sales and marketing within the HR tech space discuss various topics related to HR tech, sales enablement, and the challenges faced in these industries. They talk about the evolution of HR tech and its impact on employee onboarding and hiring experience. They also discuss the parallel between sales enablement and HR tech, the challenges of outbound sales, and the future of email marketing. Matt shares his favorite book and the best piece of business advice he has received. You can watch/listen to the podcast on YouTube, Spotify, and Apple.
Chapters
00:00 Introduction and Cold Open
08:07 The Parallel Between Sales Enablement and HR Tech
12:01 The Challenges of Outbound Sales
16:00 The Future of Email Marketing
Takeaways
HR tech has not significantly improved the employee onboarding and hiring experienceThe HR tech industry continues to fracture and expand with new companies and solutionsSales enablement tools and strategies are evolving, with a focus on content creation and audience targetingThe future of sales is uncertain due to email deliverability challenges and the need for new outreach methodsKnowing what you don't know and being humble about it is important in business
Sound Bites
"No, no, absolutely not. And I don't, I really don't sit this at the feet of the entrepreneurs or those companies necessarily.""The technology can only do so much for that experience. It's up to the recruiters as well and the hiring managers to put the effort in as well.""The inbound method is no longer a thing, right?"

In this conversation, David Paul interviews Seth Merritt, the founder of Welby Health, about value-based care in the healthcare industry. They discuss the challenges of implementing value-based care initiatives, the need for innovation in the healthcare system, and the difficulties faced by providers and payers. Seth shares his journey as an entrepreneur and the lessons he learned about raising capital and finding the right investors. Overall, the conversation highlights the complexities of the healthcare industry and the importance of finding solutions that work for both providers and payers. In this conversation, Seth Merritt discusses his experience with raising capital and the challenges of managing money in a startup. He emphasizes the importance of delivering value to investors and being thoughtful about the use of capital. Seth also shares his perspective on the changing dynamics of the market and the need for startups to focus on profitability and differentiation. He highlights the importance of stewardship and the long-term commitment required in the startup journey. Seth concludes by discussing his excitement about the future of his company, Welby Health, and the opportunities for growth and scaling. You can watch/listen to the podcast on YouTube, Spotify, and Apple.
Takeaways
Implementing value-based care initiatives is challenging due to the complexities of the healthcare system and the resistance to change.Innovation in healthcare is necessary to improve patient outcomes and reduce costs, but it requires understanding the nuances of the industry.Finding the right investors and partners is crucial for the success of a healthcare startup, as they provide not only capital but also guidance and support.The healthcare industry needs solutions that work for both providers and payers, considering their different needs and constraints. Delivering value to investors is crucial in the startup journey.Being thoughtful about the use of capital and focusing on profitability are essential for long-term success.Differentiation and demonstrating real value are more important than just having a great idea or pitch.Stewardship and a long-term commitment are necessary to navigate the challenges of the startup world.Scaling a startup requires managing costs, finding the right talent, and charging what the company is worth.
Sound Bites
"We were dealing with a lot of health systems and larger providers and administrative pieces of the organization versus the individual doctor working in his office and the patient who has hypertension and diabetes, they were just sort of like numbers on a chart.""Everyone complains about healthcare spending, but no one's really putting their money where their mouth is, you know, and trying to do anything about it.""You're asking doctors on their 2% margin to go pay for something else, even if it's the best thing ever, it's just not gonna happen.""The only thing contractually that VCs have to do is why are you money?""Sometimes you just need the person that believes in you, right? Even if it is a dick.""This idea is actually real. That gave me like a little bit of push."
Chapters
07:22 The Need for Innovation in...

In this conversation, David Paul interviews Nick Steinwachs about the challenges and opportunities in the healthcare industry. They discuss the importance of customer empathy, the role of founders in healthcare startups, and the need for innovative solutions. They also touch on the difficulties of commercializing healthcare products and the importance of market validation. Nick shares his insights on finding a product-market fit and navigating founder bias. Overall, the conversation highlights the complexities of the healthcare industry and the importance of understanding customer needs. You can watch/listen to the podcast on YouTube, Spotify, and Apple.
Takeaways
Customer empathy and subject matter expertise are crucial in building successful healthcare products.Commercializing healthcare products can be challenging due to regulatory issues and the need for buy-in from healthcare providers.Shifting the market conversation can be more effective than trying to retool a product that is not resonating with customers.Founders should listen to their market and be willing to let go of their solutions to address the real problems.Market validation is important, and founders should focus on usability, feasibility, viability, and value in their product development process.
Chapters
00:00 Introduction and Background
02:26 The Importance of Customer Empathy
08:21 Challenges in Commercializing Healthcare Products

14:51 Shifting the Market Conversation

Keywords- healthcare, startups, customer empathy, product-market fit, commercialization, market validation, founder bias

29:12 The Role of Market Validation

In this episode, David Paul interviews Lisa Diaz, the founder of Turf Advisory, about the construction industry and the need for infrastructure investment. They discuss the challenges of government prioritization, the role of general contractors and subcontractors, and the low margins in the construction industry. They also explore the potential of construction technology to increase margins and address pain points in the industry. Lisa emphasizes the importance of integrating and connecting different systems and the need for standardization in construction. She also shares her excitement about using digital twins for infrastructure assessment and the opportunity for infrastructure repair. You can watch/listen to the podcast on YouTube, Spotify, and Apple.
Takeaways
The construction industry is in need of infrastructure investment to address deteriorating infrastructure and meet the growing demand for housing and transportation.Government prioritization of infrastructure projects is influenced by politics and the most pressing needs, often resulting in a shortage of funding for necessary repairs and upgrades.Construction technology has the potential to increase margins in the industry by improving efficiency and addressing pain points such as labor tracking and material delivery.The adoption of construction technology faces challenges such as resistance to change and the need for standardization and integration among different systems.
Chapters
01:05 The Need for Infrastructure Investment
03:09 The Importance of Infrastructure to Joe Biden
04:15 Improving Infrastructure in New York City
05:19 Bidding and Contracting in the Construction Industry
06:13 Different Types of Construction and Contractors
07:38 The Role of General Contractors and Subcontractors
08:33 The Transition to Design-Build Contracts
09:20 Low Margins in the Construction Industry
10:17 Increasing Margins with Construction Technology
11:46 The Challenges of Construction Technology Adoption
13:02 Using Technology to Track Labor and Materials
14:53 Addressing Pain Points in Construction
16:15 The Importance of Integration and Connectivity
19:12 Regulatory Changes and Pain Points in Construction
20:40 Using Digital Twins for Infrastructure Assessment
23:16 The Need for Standardization in Construction
27:17 The Opportunity in Infrastructure Repair
29:38 Contacting Lisa Diaz and Turf Advisory