The Diligent Observer Podcast

Today's episode explores three ideas that caught my attention: * The power of student innovation - The story of Ariana Williams turning a class paper into Prairie View A&M's first innovation center demonstrates how exposure to possibilities can catalyze institutional change.* Angel groups are getting younger - The shift from mostly retirees to 75% working professionals in the Houston Angel Network reflects a broader evolution of early-stage investing. This materially changes the dynamics of engagement.* Daily optimization >>> big pivots - Her insight about successful founders making micro-adjustments daily rather than dramatic strategy shifts challenges the popular narrative about “pivots.” I explore these ideas and more with Mitra Miller, Vice President & President-Elect of the Houston Angel Network.Mitra Miller brings 25 years of venture development and innovation expertise to her role as Vice President & President-Elect of the Houston Angel Network. As managing member of Mill River Advisors, she works directly with investors and founders to optimize early-stage ventures, bringing deep expertise in strategic planning, due diligence, and commercialization. Beyond her commercial work, Mitra demonstrates her commitment to expanding innovation access through Eagle Investors, her non-profit focused on connecting under-resourced high school students with startup opportunities and business communities.During our conversation, Mitra shares:* Deep insights into building a sustainable innovation ecosystem in Houston through intentional collaboration between investors, entrepreneurs, and community organizations.* A perspective on value creation beyond check size that emphasizes strategic introductions, industry knowledge, and active engagement with portfolio companies.* How the cap table composition tells a story about an entrepreneur’s existing investor base. If it’s all dumb money - that’s a yellow flag. What We Cover:* 00:00 Introduction * 01:02 Meet Mitra Miller: Mentor of the Year * 06:44 Impactful Mentorship Stories * 11:13 Defining Innovation and Houston's Ecosystem * Know someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Today's episode explores three ideas that caught my attention: * The Value of Intentional Silence - Mike’s approach to founder interviews, watching body language, and creating space for stories shows how sometimes what's NOT said reveals more than what is.* Government as Startup Catalyst - Mike explains how efficient government support can drive innovation. This challenges the stereotype of slow bureaucracy. McKinney EDC’s unique Innovation Fund model is making a crazy impact with nearly 50 companies funded so far. * Due Diligence Isn’t Just Analytical - The level of emotional connection to a problem affects investment decisions. This realization transformed Mike's approach from purely analytical to understanding founder passion as risk mitigation.I explore these ideas and much more with Mike Wilkes, Project Manager for the McKinney EDC Innovation Fund.Mike Wilkes is a Marine Corps veteran who now serves as Project Manager of the McKinney EDC Innovation Fund, where he oversees non-dilutive capital investments ranging from $50,000 to $500,000 for tech companies that headquarter in McKinney and create local jobs. After serving as a Marine Corps squad leader, he dove into entrepreneurship at Texas A&M and managed deal flow for North Texas Angel Network while still in college. He now applies this combined military and angel community management experience to drive innovative models for government-backed startup funding.During our conversation, Mike shares:* The 12-point McKinney EDC due diligence framework covering founder assessment to market analysis, showing how government entities can adopt venture-grade evaluation processes.* The critical role of corporate partnerships in ecosystem building as illustrated through a recent Plug and Play collaboration driving global connections and improved entrepreneur support services.* A perspective on DFW's funding gap at Series B and C stages, highlighting the opportunity for later-stage capital to round out the ecosystem.What We Cover:* 00:00 Introduction * 02:43 Challenges and Realizations in the Primer Industry * 06:53 Mentorship and Early Entrepreneurial Experiences * 07:37 Involvement wiKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Curtis Feeney, Senior Advisor at Peterson Partners, shares his remarkable journey from managing Stanford's endowment to serving on numerous boards. He discusses the shift in mindset required in long-term investing versus short-term profits. Curtis emphasizes that downturns can enhance decision-making and prevent bad habits. He also reveals how advisory board positions are often earned through genuine contributions, showcasing the importance of a 'give first' mentality for professional growth.

Larry Warnock is the Founding Partner of Ring Ventures (part of the Alumni Ventures Group), a Venture Capital Fund that deploys investment capital into tech and tech-enabled early-stage businesses. He continues consulting with the fund as a Partner Emeritus. He has made over 70 investments in his tenure as a VC. Larry is a seasoned venture-backed tech executive with multiple exits via acquisition or IPO. Prior to founding Ring Ventures he was the President and CEO of Olono, an AI platform for sales effectiveness (acquired by InsightSquared). Previously he was theCEO of Gazzang, a provider of big data security software (acquired by Cloudera), andPhurnace, a provider of DevOps software (acquired by BMC Software). Earlier in his career he was a VP of Marketing for a company in California that went public on the NASDAQ exchange. After moving back to Texas from Silicon Valley, Larry was a Venture Partner at AVLabs, the incubator fund of Austin Ventures. His career has allowed him to work with numerous VCs and companies across California, Colorado, and Texas. Lake LBJ in central Texas is now his home with his wife of 40 years. He has two adult children and 2 grandchildren. Larry graduated from Texas A&M in 1983 with a Degree in Marketing. He is a frequent speaker at Texas A&M’s Mays School of Business and sits on the Advisory Board of the McFerrin Center for Entrepreneurship at A&M.During our conversation, he discusses: * His 'Three T's' framework: TAM, Tech, and Team for evaluating investment opportunities* The importance of the team in the success of a venture* The stories of missed investment opportunities and lessons learned* Advises on the pitfalls of complicated cap tables and emphasizes the benefits of SAFE notes for angel investments* The conversation highlights the importance of building relationships with founders early* Current VC investment trends including the resurgence of hardware and AI applications* His insights on how angels can add value beyond financing* His advise for angel investors on leveraging research and trends to make informed investment decisions* The recounts of the more unusual pitches he's encountered, including one for recreating the woolly mammoth.Listen now on Spotify, Apple Podcasts, and YouTube. What We Cover:* Know someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Alden Zecha is the Managing Director at SideCar Angels and serves on the Board of the Angel Capital Association. He has invested in over 80 startups, two of which have become unicorns valued at over $1 billion. Alden has founded multiple enterprises and previously worked in various roles in government, academia, and private industry. He has spoken at the White House on entrepreneurship, serves as a Senior Fellow at Duke University's Fuqua School of Business, and is NACD Director Certified. Alden also serves on multiple corporate boards including chairing an audit committee and focuses on international expansion with an eye toward social impact.During our conversation, he discusses: * Aligning perspectives when reviewing diligence materials* His extensive experience in entrepreneurship and angel investing* Evolution of investment strategy towards smaller, diversified bets* SideCar Angels' model for aggregating investments and member participation* Benefits of SideCar's approach including low legal fees and fast decision-making* Challenges such as potential missed opportunities due to deal lead barriers* Importance of thorough evaluation of investment memos and diligence reports* Key factors in evaluating investment opportunities and VCs’ diligence* Highlights of successful investments in ezCater and Wasabi* Trends in AI investments and the need for educating new angel investorsListen now on Spotify, Apple Podcasts, and YouTube. What We Cover:* 00:00 Introduction* 02:51 Alden's Journey into Angel Investing * 03:51 Building a Diverse Portfolio * 06:09 Evolving Investment Strategies * 08:23 The SideCar Angels Model * 23:26 Key Elements of Written Materials * 24:5Know someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Igor Belagorudsky builds, advises and scales startups. From a germ of an idea through seed, VC rounds, strategic partnerships and anything that comes next. Sometimes, he invests in them too.He helps entrepreneurs make good decisions about product, team, processes and everything in between.As a CTO, Igor is a confident full stack enterprise architect in several technology ecosystems. As a leader, he is a champion of smart and transparent teams, open communication across the entire organization, repeatable processes and leadership by example. As a human, he is an ardent believer in equality, equity, fair pay, science and continuous pursuit of knowledge.During our conversation, he discusses: * The emotional and financial impact of failed investments on bootstrapped founders* His mission to redeem the staffing industry from exploitative practices* The creation of FastCTO to help non-technical founders find reliable talent* Ethical engagement and collaboration with accelerators like TechStars* Advising founders on careful validation of ideas and efficient budget use* The importance of user traction and code quality for investment decisions* Understanding and managing tech debt for startup sustainability* The role of AI in helping non-technical founders create MVPs* His career reflections and notable missed opportunitiesListen now on Spotify, Apple Podcasts, and YouTube. What We Cover:* 00:00 Introduction * 02:17 Challenges in the Staffing Industry * 04:24 The Impact of Financial Situations on Startups * 10:54 The Birth of FastCTO * 21:43 The Importance of Due Diligence in Angel Investing * 24:15 Understanding Traction and Investment Strategies * 27:42 AssessiKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Juan “Sebastian” Garzon serves as the Executive Director of Alamo Angels, the largest angel network in Texas. In his role, he facilitates access to capital via angel investing to companies across the U.S. and Latin America. Through his strategic guidance, Alamo Angels has invested in over 50 companies to date.Sebastian's exceptional acumen and dedication have been recognized by industry peers and publications alike. His notable accolades include being named to the prestigious Texas Top 100 for 2024, as well as being recognized as a recipient of "40 Under 40" in Corpus Christi. Moreover, his commitment to continuous growth and excellence led him to complete the rigorous VC Unlocked program, a collaborative initiative between Stanford University and 500 Global, designed to empower emerging venture capital leaders from around the world with cutting-edge insights and strategies.Beyond his career in investment, Sebastian is also the visionary behind Passport2Fluency, a company aimed at empowering individuals to enhance their Spanish language skills. Through Passport2Fluency, he embodies his passion for education and cultural exchange, making a tangible impact on the lives of countless learners seeking linguistic proficiency and global connectivity.During our conversation, he discusses: The importance of curating high-quality companies and connecting with the right investorsGrowing Alamo Angels and their focus on Latin American startupsCultural differences between U.S. and Latin American business interactionsLeveraging community-driven approaches and simplifying the investment processThe role of strategic partnerships and cultural intelligence in building trustIntegration with Velocity Texas and shared resource benefitsCreating a sense of community and facilitating organic learning through eventsExpanding investment opportunities in South Texas and cross-border activitiesLong-term potential of startup activity and nearshoring trendsConnect with Sebastian: LinkedIn | InstagramStuff We Reference  DisneyStanford VC Unlocked South Coast Angel NetworkKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Brook Stroud is a Senior Principal at Alumni Ventures, where he applies his passion for early-stage investing, drawing from his experience as both an entrepreneur and investor. He founded and successfully exited two consumer startups: La Matera, a fashion brand, and Somerset, a beverage company.Prior to Alumni Ventures, Brook worked at Brand Foundry Ventures, focusing on early-stage investments, due diligence, and portfolio management. He also gained valuable fintech experience at Funding Circle during its expansion phase leading up to its IPO.Brook earned a BA in History from the University of Richmond and an MBA in Finance from the University of Texas McCombs School of Business, where he was awarded the McCombs Entrepreneur Summer Fellowship. He is particularly passionate about working with bold founders, leveraging his entrepreneurial and investing background to focus on founder psychology, early-stage data inefficiencies, and identifying high growth opportunities across various sectors.During our conversation, he discusses: The evolution of entry barriers in software and the advent of AI.Brook’s entrepreneurial journey and learnings from running a fashion brand and a beverage company.The significance of founder-market fit and having a deep passion for a space.Strategies for evaluating consumer retail and SaaS investment opportunities.The importance of diversification in angel investing to manage risk.Navigating the noise in SaaS investments amidst technological advancements.The role of resourcefulness in angel investing when direct access to founders is limited.Connect with BrookLinkedInStuff We ReferenceNikeAlex StroudRalph LaurenRalph Lauren RRL Brand Texas A&M UniversityFunding CircleLondon Stock ExchangeUniversity of TexasRockstar EnergyMonster EnergyLaCroixKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Patrick Farrell founded Potomac Angel Capital in early 2022 to bring like-minded angel investors together in the D.C. area to invest in mission-driven, early-stage entrepreneurs for mutual financial benefit, lasting impact, and meaningful relationship. As the Executive Director, Patrick is intimately involved in sourcing deals, hosting events, leading diligence, and serving as a trusted advisor to investors/portfolio companies. In late 2023, he moved to Austin, TX to expand PAC and plant a second angel network as part of a vision to enable flourishing entrepreneurial ecosystems in cities across the U.S.Prior to PAC, as part of the founding executive team at Nehemiah Security, Patrick was responsible for evaluating acquisition and funding opportunities to grow and eventually exit the business. Patrick was also responsible for Operations at Nehemiah, where he functioned as an executive leader in legal, recruiting, compliance, security, procurement, and cross departmental projects.Patrick is a graduate of Vanderbilt University with a double major in Human & Organizational Development and Economics, where he attended on a full-tuition Dean’s Academic Scholarship.During our conversation, he discusses: The benefits of investing together versus investing aloneChallenges in running and operating angel networksThe importance of the founder's spiritual and emotional healthEvaluating founders based on specific traits such as openness and boldnessStarting PAC and the expansion to AustinEmphasis on relationships and community within the investment processBalancing impact with potential profitability in investmentsNavigating the macroeconomic factors affecting early-stage investmentsLessons learned and the potential pitfalls in sticking to core valuesConnect with PatrickLinkedIn | WebsiteStuff We Reference Semester at SeaManaus BrazilDEETPlease Assist MeStephanie CummingsRashad CummingsPrinciples by Ray DalioGrant Van CleveKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

Phil Jung is a Partner at Sovereign’s Capital where he invests in Seed and Series A stage technology companies led by faith-driven entrepreneurs across the U.S. and Southeast Asia. He was previously the CFO and CPO at Mindoula, a healthtech company that serves populations with complex behavioral health, medical, and social challenges. Prior, he was with the Maryland Venture Fund, Foundation Capital, and TDF Ventures, leading investments in early and growth stage technology companies. He began his career at KPMG’s Risk Consulting practice in Silicon Valley and co-founded the Jeremy Lin Foundation, a non-profit whose mission is to serve at-risk youth through education and leadership development in underserved communities.During our conversation, Phil discusses: His career transition from KPMG to Sovereign’s CapitalThe role of mentorship and relationship-building in venture capitalReflecting on the influence of his musical background on his professional lifeThe importance of a supportive investor-founders relationshipSovereign’s Capital’s missionExamples of impactful investments like Grab and PrevetaPhil's tips on transitioning from consulting to VC Insights into Sovereign’s early stage venture funding strategyConnect with PhilLinkedInStuff We Reference  Georgetown UniversityHeny KaestnerLuke RoushBandwidthGrabAnthony TanAmbassadors Impact NetworkPotomac Angel CapitalHarvard Business SchoolNASDAQPrevetaKnow someone who would enjoy this episode? Share it with them! P.S. Your feedback is important to me. Also, it tells the algorithms to pay more attention, which helps me out a lot. If you enjoyed this episode, hit the "like" button or leave a comment with your thoughts. Want more? Get essential angel intel straight to your inbox every week with The Diligent Observer Newsletter. Check out the entire show library and follow via Apple Podcasts, Spotify, and YouTube. Connect with Andrew LinkedIn | X | Angel Ops E-Book All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.