Startups Decoded

S2E11: Use Banks, Not VCs: Non-Dilutive Capital for Founders with Ashley D. Bell & Redemption Bank.

Attorney, entrepreneur, and policy leader Ashley D. Bell is building Redemption Bank, a modern Minority Depository Institution designed to give founders something Silicon Valley rarely does: non-dilutive capital that preserves ownership. With experience spanning the SBA, the White House, and co-founding the National Black Bank Foundation with Dr. Bernice A. King (daughter of Dr. Martin Luther King Jr.), Ashley is fusing community banking, MDI syndication, and fintech infrastructure into a new model of founder finance. In this episode, we break down how to use banks—not just VCs—to extend runway, stabilize cash cycles, and raise without giving up equity. What We Cover * Why Redemption Bank: the market gaps MDIs can uniquely fill—credit where venture dollars don’t reach * Debt > Dilution (sometimes): picking the right facility (LOC, equipment, AR, revenue-based) for your stage * Underwriting that sees your business: when ARR, AR aging, and cohorts matter more than FICO * Syndication & Scale: how MDIs partner to increase check sizes without predatory terms * Treasury as RevOps: banking tools that speed collections, reduce working-capital drag * Signals & Stakeholders: why banking with a mission brand opens doors (enterprise, municipal, talent) * Playbook: the 30-day path to “bank-ready” for early-stage companies Chapters  1. 00:00 Introduction to Modern Banking and Treasury 2. 05:42 Ashley Bell's Journey to Redemption Bank 3. 11:08 The Legacy of Dr. Martin Luther King Jr. 4. 16:11 Redemption Bank's Unique Approach to Banking 5. 20:15 The Importance of Role Models in Entrepreneurship 6. 26:36 Reimagining Banking for Modern Founders 7. 34:25 Building Community and Trust in Banking Ashley D. Bell [https://www.linkedin.com/in/ashley-d-bell-5844631/] Co-Founder, Chairman & CEO of Redemption Bank. A former SBA Regional Administrator and White House policy advisor, he co-founded the National Black Bank Foundation with Dr. Bernice A. King to channel capital into underserved communities. As an attorney and entrepreneur, he’s focused on building a scalable, tech-forward MDI that expands access to responsible credit for founders and small businesses. Who Should Listen * Founders exploring non-dilutive options (SaaS, e-comm, services) * Operators/finance leads responsible for cash conversion cycles * Angels/seed investors advising portco’s on runway without dilution * Ecosystem builders interested in MDIs, community finance, and equitable growth Music Credit “Neptuno” – Phondupe (Album: Onykia) [https://open.spotify.com/track/6LXsBpMfLLxwC7p06wXX21?si=fd511d641af34926] Access All Areas. Listen: Apple [https://podcasts.apple.com/us/podcast/startups-decoded/id1791857722] || Spotify [https://open.spotify.com/show/220mqWlx20TABn7wzCPCeu?si=1c6e91af36d34c92] || YouTube [https://www.youtube.com/@startups_decoded] Subscribe: Substack [https://startupsdecoded.substack.com/] Community & Events: Founders Circle [https://startupsdecoded.com/founderscircle#founder-form] Connect: LinkedIn [https://www.linkedin.com/in/anwalsh/] Socials: TikTok [https://www.tiktok.com/@startups_decoded] || Instagram [https://www.instagram.com/startups_decoded/] || X [https://x.com/StartupsDecoded] Web: startupsdecoded.com [http://startupsdecoded.com/]

S2E10: The FemTech Edge: Build and Train by Your Menstrual Cycle - Lizzy Palmer (Founder, SyncN).

94 percent of sports-science research excludes female physiology. The result? A $10 billion fitness industry that burns women out, leads to injury, and disrupts hormonal health. Lizzy Palmer, Founder and CEO of SyncN, is changing that. SyncN is the first cycle-aware fitness and nutrition platform that personalizes training and nourishment around women’s hormonal rhythms — used by athletes, creators, and founders who want performance without burnout. Sponsored by Cherub [https://www.investwithcherub.com/?ref=decoded] In this conversation, Lizzy unpacks: * How SyncN helps founders align health with high performance — designing systems for consistency, not guilt. * The hidden toll of fundraising — what chronic stress does to founders’ energy, hormones, and focus, and how to lead without self-erasure. * Scaling through partnerships — how SyncN’s growth strategy ties mission to distribution through gyms, coaches, and women’s health platforms. What a free 6-month trial on SyncN?* Visit the SyncN Linktree [https://linktr.ee/syncnapp] and use the word Decoded” to unlock a Startups Decoded exclusive trial today. (Conditions apply) Disclosure: Andy Walsh serves as an advisor to SyncN. The views expressed here are my own and not influenced by my advisory role. Chapters 00:00 Introduction to Health and Wellness for Founders 01:21 Lizzy’s Journey: From Dance to FemTech 04:37 The Gap in Female Health Research 09:10 Understanding Female Physiology and Hormones 13:16 Training Female Athletes: The Importance of Cycle Awareness 17:57 Self-Compassion and Acceptance in Fitness 22:15 Normalizing Conversations Around Menstruation 25:53 Partnerships and Collaboration in FemTech 28:15 Building Partnerships for Growth 31:20 The Importance of Action in Partnerships 32:52 Leveraging Professional Relationships 36:10 Storytelling and Education in Fitness 39:34 Mental Health and Founder Life 43:50 Navigating Fundraising Challenges 49:45 Introducing Sync In: A New Approach to Women’s Health Guest Bio Lizzy Palmer [https://www.linkedin.com/in/lizzy-palmer/] is the Founder and CEO of SyncN, a cycle-aware fitness and nutrition platform helping women train and fuel in sync with their physiology. A former UX researcher at Meta and Roblox and a professional dancer and fitness coach, Lizzy founded SyncN to close the research gap in women’s health and empower female founders to optimize performance without burnout. Check out SyncN [https://linktr.ee/syncnapp] Music Credit “Neptuno” – Phondupe (Album: Onykia [https://open.spotify.com/album/0ODllVyxKmnHxJU6QGoqKe?si=A75n-2VnSvS8nRH2P5qICw]) Access All Areas. Listen: Apple [https://podcasts.apple.com/us/podcast/startups-decoded/id1791857722] || Spotify [https://open.spotify.com/show/220mqWlx20TABn7wzCPCeu?si=1c6e91af36d34c92] || YouTube [https://www.youtube.com/@startups_decoded] Subscribe: Substack [https://startupsdecoded.substack.com/] Community & Events: Founders Circle [https://startupsdecoded.com/founderscircle#founder-form] Connect: LinkedIn [https://www.linkedin.com/in/anwalsh/] Socials: TikTok [https://www.tiktok.com/@startups_decoded] || Instagram [https://www.instagram.com/startups_decoded/] || X [https://x.com/StartupsDecoded] Web: startupsdecoded.com [http://startupsdecoded.com/]

S2E9: From Peter Thiel’s Fellowship to 1517 Fund — The VC Who Funds Rebels (Michael Gibson)

Forget Ivy League. Build Your Own Startup Empire. From Peter Thiel’s Fellowship revolution to building the 1517 Fund, Michael Gibson has made a career out of betting on outsiders.  In this episode, he reveals how Thiel’s philosophy, back people, not pedigrees, shaped his mission to fund dropouts, renegades, and deep-tech builders rewriting the future. We unpack how to spot unconventional talent before the world does, why early bets on unproven founders can outperform safe money, and how the next wave of transformative startups won’t emerge from Ivy League halls, but from the edges of the system. Chapters * 00:00 From Journalism to Venture Capital: A Unique Journey * 07:05 The Dynamics of Founders and VCs * 12:50 The Role of Experience in Venture Capital * 17:32 Investing in Young Founders: The 1517 Fund * 22:56 Backing Renegades: A New Approach to Investment * 24:36 The Democratization of Innovation * 25:36 Identifying the Renegade Mindset * 28:10 The Impact of Educational Systems on Creativity * 32:25 Curiosity as a Key Trait * 36:20 The Role of Unorthodox Thinking * 38:40 Challenging the 10,000 Hour Rule * 42:16 The Importance of Unique Perspectives * 45:48 Managing Investor Expectations Guest Bio Michael Gibson [https://www.linkedin.com/in/michael-patrick-gibson-56b6973/] is the co-founder and general partner of 1517 Fund, a venture firm dedicated to backing dropouts, renegade students, and deep tech scientists who challenge the traditional path.  Before starting 1517, he was Vice President of Grants at the Thiel Foundation, where he helped launch and run the Thiel Fellowship, and worked at Thiel Capital. With an academic background in philosophy from Oxford and early editorial roles at places like MIT Technology Review, Michael brings both intellectual depth and contrarian edge to venture capital.  At 1517, he’s leading a reformation of how innovation is funded, betting on people with the courage to break from convention. Michael Gibson Links * LinkedIn [https://www.linkedin.com/in/michael-patrick-gibson-56b6973/] * X [https://x.com/William_Blake] * Book [https://www.amazon.com/Paper-Belt-Fire-Fight-Progress/dp/164177245X]: "Paper Belt on Fire" Who Should Listen * Founders who’ve taken the unconventional path — dropouts, outsiders, or builders challenging industry norms. * Aspiring entrepreneurs looking for insight into how Peter Thiel’s philosophy still shapes venture investing today. * VCs and angel investors who want to understand how to spot raw, uncredentialed talent before it becomes obvious. * Operators and innovators curious about how deep-tech and frontier thinkers are funded at the idea stage. Music Credit “Neptuno” – Phondupe (Album: Onykia) Access All Areas. Listen: Apple [https://podcasts.apple.com/us/podcast/startups-decoded/id1791857722] || Spotify [https://open.spotify.com/show/220mqWlx20TABn7wzCPCeu?si=1c6e91af36d34c92] || YouTube [https://www.youtube.com/@startups_decoded] Subscribe: Substack [https://startupsdecoded.substack.com/] Community & Events: Founders Circle [https://startupsdecoded.com/founderscircle#founder-form] Connect: LinkedIn [https://www.linkedin.com/in/anwalsh/] Socials: TikTok [https://www.tiktok.com/@startups_decoded] || Instagram [https://www.instagram.com/startups_decoded/] || X [https://x.com/StartupsDecoded] Web: startupsdecoded.com [http://startupsdecoded.com/]

S2E8: Founders: The Easy Way to Land Angels, Fast - Jaclyn Johnson, CEO - Cherub

Jaclyn Johnson is a powerhouse entrepreneur, investor, and advocate for women in business. By 35, she had already launched and sold two multimillion-dollar companies, including Create & Cultivate, a first-of-its-kind platform for female entrepreneurs that scaled to eight-figure revenue and partnered with Fortune 500 brands like Amazon, Mastercard, and Microsoft. Now, she’s back with Cherub [https://www.investwithcherub.com/], a double-sided marketplace designed to bridge the gap between underrepresented founders and democratizing access to category-defining companies. As both an angel investor and advisor, Jaclyn has backed businesses like Away, Live Tinted, and Chillhouse, bringing hard-won experience from her own journey into the founder–funding relationship. Subscribe now [%%checkout_url%%] In this conversation, we break down: * Jaclyn’s origin story: why she built Cherub * How she approaches angel investing and the lessons she’s learned * What makes a great angel pitch (and what doesn’t) * The realities of being an accredited investor * Why representation in funding isn’t just moral, it’s market-changing Chapters 00:00 The Importance of Angel Investments 02:49 Jaclyn’s Journey as a Founder and Investor 05:41 Understanding Angel Investors vs. Venture Capitalists 08:28 The Role of Angel Advisors 11:23 Building Relationships with Angels 14:15 The Power of Brand Fame 17:25 Cherub’s Mission and Deal Flow 20:07 Educating Angels and Standardizing Investments 23:13 Creating Effective Fundraising Pages 26:12 The Role of Analytics in Fundraising 29:04 Onboarding Founders to Cherub 32:01 Connecting with Angels: Best Practices 35:03 Diversifying the Investment Landscape 37:58 The Future of Angel Investing 40:35 Special Offers for Founders on Cherub Guest Bio Jaclyn Johnson [https://www.linkedin.com/in/jaclynjohnson/] is the founder of Cherub and creator of Create & Cultivate, which she scaled to an eight-figure exit while reshaping how brands and communities support female entrepreneurs. Named a Forbes 30 Under 30 and an Adweek Disruptor, Jaclyn is an angel investor and advisor to companies including Away, Live Tinted, and Chillhouse. She’s dedicated to making capital and community more accessible for underrepresented founders while equipping the next generation of women entrepreneurs to scale. Who Should Listen * Founders raising their first angel round * Entrepreneurs seeking representation and resources * People curious about Angel Investing and how to get started * Operators looking to understand the angel landscape Music Credit “Neptuno” – Phondupe (Album: Onykia) Access All Areas. Listen: Apple [https://podcasts.apple.com/us/podcast/startups-decoded/id1791857722] || Spotify [https://open.spotify.com/show/220mqWlx20TABn7wzCPCeu?si=1c6e91af36d34c92] || YouTube [https://www.youtube.com/@startups_decoded] Subscribe: Substack [https://startupsdecoded.substack.com/] Community & Events: Founders Circle [https://startupsdecoded.com/founderscircle#founder-form] Connect: LinkedIn [https://www.linkedin.com/in/anwalsh/] Socials: TikTok [https://www.tiktok.com/@startups_decoded] || Instagram [https://www.instagram.com/startups_decoded/] || X [https://x.com/StartupsDecoded] Web: startupsdecoded.com [http://startupsdecoded.com/]

S2E7: Boards That Raise, How to Turn Advisors into Capital (with Breen Sullivan)

What if founders could get the right advisor, investor, or board talent exactly when they need it, before they even ask? In this episode, Breen Sullivan (Founder & CEO, The Fourth Effect; longtime startup GC and board leader) lays out how AI is changing founder access: surfacing who you need and when, structuring “fit-for-purpose” advisory and board relationships, and turning connections into outcomes. We unpack why traditional networks leave too many founders behind, how to make boards growth drivers (not just governance), and how smarter, dynamic advisory models can lift retention, capital access, and founder resilience. Chapters 00:00 Introduction to Boards and Advisories 02:49 The Role of Community in Startups 05:33 Understanding Advisory Boards 08:12 The Impact of AI on Advisory Boards 11:05 Fit for Purpose: Dynamic Advisory Relationships 14:03 Navigating Advisor Roles and Responsibilities 16:27 The Importance of Early Advisory Engagement 19:32 Leveraging Advisors for Fundraising 22:15 The Fourth Effect Platform Overview 24:58 Connecting Founders with Advisors 27:42 The Future of Advisory Boards and Capital Raising Breen Sullivan [https://www.linkedin.com/in/breensullivan/] Breen Sullivan is Founder & CEO of The Fourth Effect and a seasoned startup executive, board member, and former General Counsel across high-growth companies. She focuses on building inclusive, ROI-driven boards and advisory networks that strengthen execution, fundraising, and leadership. She’s a leading voice on board diversity, founder access, and equitable innovation. The Fourth Effect [https://www.thefourtheffect.com/] Who Should Listen * Founders building advisory benches and early boards * Operators/execs considering advisor or independent director roles * Angels and VCs exploring advisor-investor models * Builders designing AI-assisted founder support workflows Music Credit “Neptuno” – Phondupe (Album: Onykia) Access All Areas Listen: Apple [https://podcasts.apple.com/us/podcast/startups-decoded/id1791857722] || Spotify [https://open.spotify.com/show/220mqWlx20TABn7wzCPCeu?si=1c6e91af36d34c92] || YouTube [https://www.youtube.com/@startups_decoded] Subscribe: Substack [https://startupsdecoded.substack.com/] Community & Events: Founders Circle [https://startupsdecoded.com/founderscircle#founder-form] Connect: LinkedIn [https://www.linkedin.com/in/anwalsh/] Socials: TikTok [https://www.tiktok.com/@startups_decoded] || Instagram [https://www.instagram.com/startups_decoded/] || X [https://x.com/StartupsDecoded] Web: startupsdecoded.com [http://startupsdecoded.com/]