Seth Levine of Foundry Group on Capital Evolution, AI, and the Future of Company Leadership

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Guest: Seth Levine

Book: Capital Evolution

Podcast: Between Two COOs

Host: Michael Koenig

What we cover

• Why Seth wrote Capital Evolution and why now
• Why today’s economic shift is structural, not cyclical
• How power has moved from public institutions to businesses
• What companies are being asked to carry that they weren’t built for
• How AI fits into this broader realignment
• Early signals that companies are adapting well to AI
• What strong executive teams do differently during uncertainty
• Common leadership traps when change happens too fast
• A real crisis from a portfolio company and what the executive team did well
• The new leadership muscle operators need for the next decade

Episode Chapters / Timestamps

00:00 – Introduction

01:40 – Seth’s 30-second pitch for Capital Evolution

04:05 – Why this shift is structural, not cyclical

07:20 – What’s broken in the current economic model

11:00 – The power shift from government to business

15:10 – What leaders are quietly losing

18:45 – Where AI fits into this realignment

23:30 – What boards see when AI adoption works

28:05 – How strong executive teams handle uncertainty

33:40 – Leadership traps during rapid change

38:10 – A crisis inside a portfolio company

44:00 – The new muscle operators must build

48:50 – A moment Seth never thought he’d see