Dynamic Capitalism & Building Entrepreneurial Ecosystems Anywhere w/ Seth Levine, Co-Founder of Foundry

In this episode of Outsider Inc., host Ian Hathaway sits down with Seth Levine, co-founder and longtime partner at Foundry, to explore a two-decade journey at the center of entrepreneurship, venture capital, and ecosystem building outside traditional power centers. Levine reflects on helping build Foundry into a top-tier venture firm based in Boulder, his belief in entrepreneurship as a driver of economic mobility, and the lessons behind his new book Capital Evolution. He also discusses backing overlooked founders, the philosophy of "give first," winding down Foundry by design, and his latest chapter launching Good Bread, a lending platform that expands access to capital for small business owners traditionally shut out of the financial system.

Show Notes:

(02:10) Why Entrepreneurship Fuels Job Creation and Innovation

(03:25) Capital Evolution and the Case for Dynamic Capitalism

(06:05) Long-Term Thinking vs. Short-Term Market Pressure

(08:45) Declining Economic Dynamism and Barriers to Opportunity

(12:00) Family Roots, Class Mobility, and Early Entrepreneurial Influence

(15:45) Lessons from the Dot-Com Boom, Bust, and Corporate Humility

(19:30) Entering Venture Capital After the Crash

(23:10) Founding Foundry and Betting on Non-Coastal Startups

(27:05) Backing Overlooked Founders and Scrappy Entrepreneurs

(31:40) Building a National Venture Platform from Boulder

(35:10) Deciding to Wind Down Foundry and Make Space for New Funds

(38:30) Writing The New Builders and Reframing Entrepreneurship

(41:30) Launching Good Bread to Expand Access to Small Business Capital

(45:45) What Makes Startup Ecosystems Resilient Around the World

(49:40) The Enduring Power of "Give First"

(54:00) Beyond the Bio: Seth Levine

✅ Host: Ian Hathway - Co-Founder & Managing Partner, FOVC

✅ Guest: Seth Levine, Co-Founder of Foundry

Produced by Spellbinder Media. Executive Produced by Bridge Five Ventures. Copyright ©️2025, Bridge Five Ventures, LLC, All rights reserved.

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