Blake Modersitzki: Pelion VC, Venture Returns, AI, War Stories, Top Deals & Scale

Cahlan & Colt: 10-Year DevMountain Reunion, Bootstrapping, Bootcamps, Acquisitions

In this episode of the Startup Ignition Podcast, John pulls off a massive surprise on Tyler by bringing in his former DevMountain co-founders, Cahlan Sharp and Colt Henrie, for a special 10-year reunion of their company's acquisition. They dive deep into the origins of the legendary coding bootcamp that completely transformed the tech scene in Utah. The founders share their raw and unfiltered best and worst moments, from nearly running out of cash during a period of hypergrowth to the grueling yet life-changing M&A process. Tune in to hear how this bootstrapped startup dominated the coding bootcamp space, successfully launched the careers of thousands of students, and achieved an incredible exit against all odds. TIMESTAMPS: 00:00:00 Surprising Tyler with his DevMountain co-founders   00:03:22 Icebreaker: Best and worst moments in DevMountain history   00:06:03 Celebrating the 10-year anniversary of the DevMountain acquisition   00:06:44 The Thanksgiving cash flow crisis that nearly tanked the company   00:12:13 Firing friends and the harsh realities of being a founder   00:14:43 The defining moment when DevMountain became a destination   00:16:56 Cahlan Sharp's background and entry into web development   00:20:34 Getting a PhD in startups in Silicon Valley with Undrip   00:27:57 Colt Henrie's journey from a janitor to an entrepreneur   00:30:44 Learning from bad business ideas and finding mentors   00:36:16 The arranged marriage of the DevMountain co-founders   00:41:08 Why DevMountain succeeded by bootstrapping instead of raising VC   00:43:09 The macroeconomic factors and timing behind the bootcamp boom   00:46:20 Changing the minds of CIOs and proving the 12-week model works   00:49:42 How offering student housing transformed DevMountain's reach   00:51:58 The billboard that changed a life and the power of student outcomes   00:56:37 The fall of 2015 and surviving hypergrowth cash flow shortages   01:00:26 Overcoming banking rejections and finding creative debt funding   01:03:00 Entering the grueling M&A process and dealing with acquirers   01:05:51 How Cahlan sealed the acquisition deal at the whiteboard   01:06:56 The emotional toll and relief of finalizing the sale   01:10:22 The costly 83(b) election mistake discovered in the 11th hour   01:15:00 Wrapping up the DevMountain reunion and the founders' legacy   LINKS: Learn more about us: https://startupignition.com/links Apply to be a guest on the pod: https://startup-ignition-podcast.paperform.co/ Follow John & Tyler: https://x.com/trich_ https://www.linkedin.com/in/johnrichards/ Subscribe on YouTube: https://www.youtube.com/@StartupIgnition Follow Startup Ignition: X: https://x.com/startupignition Instagram: https://www.instagram.com/startupignition/ TikTok: https://www.tiktok.com/@startupignition LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/ Facebook: https://www.facebook.com/startupignition/ #StartupIgnition #DevMountain #Entrepreneurship #CodingBootcamp #TechStartups #FoundersJourney #Bootstrapping #BusinessAcquisition #TechTalent #SoftwareEngineering #StartupFounders #CashFlowManagement #UtahTech #VentureCapital #SiliconSlopes #BusinessGrowth #MergersAndAcquisitions #TechEducation #StartupLife #BusinessSuccess

Carine Clark: 4x CEO, First Colony Mortgage, Resilience, Beating Ovarian Cancer, Introvert, Leader

In this episode of the Startup Ignition Podcast, Tyler and John Richards sit down with Carine Clark, a four-time president and CEO of high-growth companies and the current CEO of First Colony Mortgage. Carine shares her incredible journey from an extreme introvert raised in a military family in Germany to a powerhouse leader in the Utah tech scene, with pivotal roles at Novell, Altiris, and Symantec. She opens up about her defining battle with cancer, how confronting mortality refined her approach to life and business, and the mindset required to lead fearlessly. From navigating a hostile corporate takeover to famously refusing anesthesia during surgery, Carine drops priceless wisdom on taking control of your destiny, making decisive moves, and never letting fear determine your fate. ⏱ TIMESTAMPS (00:00:00) Introduction and Carine Clark's impressive leadership bio (00:03:38) What is a "Platinum Bat" in enterprise software sales? (00:06:50) Overcoming culture: Why capable women self-select out of leadership (00:11:22) Startup Ignition Icebreaker: Fund, Promote, or Fire (00:19:16) Growing up as a military brat in Germany and moving to Utah (00:22:58) How surviving cancer refined Carine's life and priorities (00:29:19) Disrupting the mortgage industry as CEO of First Colony Mortgage (00:36:02) Early career at Novell and working with historic tech legends (00:37:03) Building Altiris and navigating a hostile takeover by Symantec (00:41:38) Celebrating Utah's deep tech history and Philo Farnsworth (00:45:08) The reality of meeting your heroes and leveling the playing field (00:46:49) A devastating dual-cancer diagnosis at the top of her career (00:50:30) Taking command of her own oncology and treatment protocol (00:53:35) Enduring a cardiac event in the chemotherapy chair (00:57:47) Intimidating the cancer: Medical port surgery without anesthesia (01:02:10) Leaving Symantec and stepping into the CEO role at Allegiance (01:04:13) Transitioning to Pelion Venture Partners and executive roles at Lumio (01:07:08) Number one advice for founders: Don't let fear determine your fate (01:10:03) Finding strength and unshakeable power as an extreme introvert (01:12:54) Episode wrap-up and final thoughts 🔗 Learn more about us: https://startupignition.com/links 🎙 Apply to be a guest on the pod: https://startup-ignition-podcast.paperform.co/ 👥 Follow John & Tyler: https://x.com/trich_ https://www.linkedin.com/in/johnrichards/ 📺 Subscribe on YouTube: https://www.youtube.com/@StartupIgnition 🐦 Follow on X: https://x.com/startupignition 📸 Follow on Instagram: https://www.instagram.com/startupignition/ 🎵 Follow on TikTok: https://www.tiktok.com/@startupignition 💼 Follow on LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/ 📘 Follow on Facebook: https://www.facebook.com/startupignition/ #CarineClark #StartupIgnition #Entrepreneurship #UtahTech #SiliconSlopes #CEOInsights #WomenInTech #Leadership #VentureCapital #TechStartups #CancerSurvivor #BusinessGrowth #FirstColonyMortgage #OvercomingFear #IntrovertPower #StartupPodcast #TechInnovation #MindsetShift #Resilience #Founders

Matty Gay: Building Primo Golf, Signing Phil Mickelson, Grant Horvat & Ecommerce Apparel

In this episode of the Startup Ignition Podcast, Tyler and John are joined by Matty Gay, Co-founder and CEO of Primo Golf Apparel. Matty shares his incredible entrepreneurial journey, from working at a local country club for free golf to climbing the ranks as a product manager at foreUP. He reveals how a simple idea for golf joggers launched during the COVID-19 pandemic turned into one of the fastest-growing premium apparel brands in the industry. Matty discusses navigating early manufacturing and sizing mistakes, mastering influencer marketing with massive creators like Grant Horvath, and the surreal experience of sponsoring golf legend Phil Mickelson. Listen in for actionable advice on building a physical brand, pricing products correctly, and knowing when to take the leap to go full-time on your startup. Timestamps: (00:00:00) Matty's entrepreneurial mentality and the power of choices (00:01:02) Welcome to Episode 50 and introducing Matty Gay (00:03:31) Matty's background and the rapid rise of Primo Golf Apparel (00:06:51) Why Primo is tied for John's favorite golf brand of all time (00:08:54) Icebreaker Game: The Favorite Foursome (00:13:00) The impact of YouTube golf creator and co-owner Grant Horvath (00:17:15) Growing up in Northern California and falling in love with golf (00:18:52) Studying advertising at BYU and building the "Flip" app (00:20:25) Attending 1 Million Cups and getting a job at foreUP (00:23:51) Matty's career path from customer support to product manager (00:27:51) The origin story of Primo Golf Apparel and the need for golf joggers (00:33:48) Launching the first 250 pairs of Primo joggers during COVID-19 (00:37:35) Early manufacturing mistakes and navigating sizing issues with customers (00:43:21) Building an ambassador program and doing things that don't scale (00:46:50) The inflection point: Taking the leap to go full-time on Primo (00:51:32) Securing a major retail partnership and scaling across Scheels stores (00:53:21) Understanding unit economics and pricing physical products correctly (00:57:17) Leveraging social media and influencers to scale the brand (00:59:54) Grant Horvath's bet with Phil Mickelson at the Open Championship (01:03:35) Elevating fabrics and designing for the modern golfer's lifestyle (01:05:37) Experiencing the magic and pristine operations of the Masters tournament (01:10:44) Primo's current scale, warehouse expansions, and team size (01:12:25) The surreal moment of meeting and signing Phil Mickelson in person (01:14:40) Matty's number one piece of advice for new entrepreneurs Learn more about us: https://startupignition.com/links Apply to be a guest on the pod: https://startup-ignition-podcast.paperform.co/ Follow John & Tyler: https://x.com/trich https://www.linkedin.com/in/johnrichards/ Subscribe on YouTube: https://www.youtube.com/@StartupIgnition Follow on X: https://x.com/startupignition Follow on Instagram: https://www.instagram.com/startupignition/ Follow on TikTok: https://www.tiktok.com/@startupignition Follow on LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/ Follow on Facebook: https://www.facebook.com/startupignition/ Tags: #StartupIgnition #PrimoGolf #MattyGay #Entrepreneurship #GolfApparel #GolfJoggers #StartupJourney #BusinessGrowth #InfluencerMarketing #GrantHorvath #PhilMickelson #FounderStory #EcommerceTips #ProductDevelopment #UnitEconomics #GolfLifestyle #StartupGrind #VentureCapital #UtahStartups #BusinessAdvice

Blake Modersitzki: Pelion VC, Venture Returns, AI, War Stories, Top Deals & Scale

In this episode of the Startup Ignition Podcast, Tyler and John welcome Blake Modersitzki, Managing Partner at Pelion Venture Partners and a foundational figure in the Utah tech ecosystem. Blake shares his incredible journey—from working as a security guard at WordPerfect, to running Novell Ventures alongside Eric Schmidt, and eventually helping scale Pelion to a massive $500M fund. He provides invaluable insights on: - What VCs truly look for during pitches - The surprising importance of a founder's "plus-one" (spousal support) - The math behind the venture power law - The epic story of Pelion's $2 billion return on Cloudflare Whether you are a founder aiming for pre-seed funding or targeting a Series A, this episode breaks down what it takes to build a world-changing company in today's rapidly shifting, AI-driven market. TIMESTAMPS 00:00:00 — Welcome to episode 49 with Blake Modersitzki   00:02:02 — Blake's history in the Utah tech ecosystem   00:04:54 — Icebreaker: "What has to be true" to invest?   00:06:03 — Why a founder's "plus one" (spouse) matters   00:08:48 — Finding a true wedge before scaling   00:10:30 — De-risking product-market fit in the AI era   00:13:09 — Scenario: Steady SaaS revenue, flat growth   00:17:11 — Understanding the Venture Power Law   00:18:15 — Responsibility to LPs (teachers, firemen, etc.)   00:22:26 — Early days: Farming, BYU, WordPerfect   00:24:45 — Novell acquisition & working with Eric Schmidt   00:28:40 — Running Novell Ventures (e.g., Red Hat)   00:30:13 — Joining Pelion & scaling to $500M funds   00:36:45 — Evolution of the Utah startup ecosystem   00:40:50 — Missed bets: NetObjects & Omniture   00:42:21 — Investing early in Domo (Josh James)   00:48:25 — Series A vs. Pre-Seed strategies   00:54:40 — Fund size vs. exit expectations   00:57:51 — Rapid fire: Founder traits & VC myths   01:01:11 — Cloudflare investment ($2B return)   01:04:26 — Advice to his 30-year-old self   01:08:00 — Final takeaway: Legacy & family   LINKS Website: https://startupignition.com/links Apply to be a guest: https://startup-ignition-podcast.paperform.co/ Follow John & Tyler: https://x.com/trich_ https://www.linkedin.com/in/johnrichards/ YouTube: https://www.youtube.com/@StartupIgnition X: https://x.com/startupignition   Instagram: https://www.instagram.com/startupignition/   TikTok: https://www.tiktok.com/@startupignition   LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/   Facebook: https://www.facebook.com/startupignition/   HASHTAGS #VentureCapital #StartupIgnition #PelionVenturePartners #SiliconSlopes #TechInvesting #Entrepreneurship #StartupFunding #SaaS #PowerLaw #SeriesA #PreSeed #Cloudflare #BusinessGrowth #VentureReturns #AIStartups #FounderAdvice #ProductMarketFit #AngelInvesting #TechEcosystem #UtahStartups

Cap Table Red Flags: AI Rewriting Startup Investing, SaaS, Solopreneurs, Founder Splits & Vesting

In this episode of the Startup Ignition Podcast, Tyler and John Richards go solo — no guest, no fluff — just a father-son tag team sharing the startup truths they're seeing every day in the trenches. They kick things off with a Masters Sunday recap (congrats Rory on the back-to-back green jackets) before diving headfirst into the conversation everyone's having in 2026: is AI actually killing SaaS? They debate vibe coding, YC's pivot toward one-on-one custom software, Sora's shutdown, and why "product built" is no longer a moat when you're pitching a VC. A rapid-fire overhyped-vs-underhyped round covers AI co-founders, solopreneurs scaling to seven figures, the remote work reversal, and startup studios. Then they get into the main event: cap tables. Why 50/50 equity splits are an automatic pass, why founder vesting is non-negotiable, the difference between fully diluted and outstanding shares, the catastrophic 30-day window on Rule 83(b) elections, how 409A valuations keep founders out of criminal liability, the right size for your stock option pool, and why dead weight on the cap table makes your startup uninvestable. If you've got co-founders, this one's required listening — send it to them today. (00:00:00) Cold open: the founder vesting horror story (00:00:29) Welcome back to the Startup Ignition Podcast (00:01:33) Masters recap: Rory McIlroy's back-to-back win (00:02:24) Is SaaS dead? How AI is reshaping startups (00:05:42) The golf course argument for vertical SaaS (00:08:42) Sora shutdown and AI companies living on investor money (00:09:37) The $200 Claude Code moment: replacing employees with tools (00:11:00) YC's push toward one-on-one personalized software (00:15:13) Breaking the news: product isn't the moat anymore (00:16:44) Overhyped or underhyped: AI co-founders (00:18:03) Can solopreneurs really scale to seven figures? (00:21:21) The remote work reversal in 2026 (00:23:24) Startup studios and founder-in-residence programs (00:27:05) Main topic: why cap tables matter (00:28:34) Red flag #1: 50/50 equity splits (00:30:34) The non-negotiable: founder vesting (00:32:07) Fully diluted vs. issued shares explained (00:35:02) Sizing your employee stock option pool (00:37:22) Undocumented equity promises will haunt you (00:38:02) Rule 83(b): the tax rule that can kill your company (00:42:05) 409A valuations and pricing stock options legally (00:45:36) Dead weight on the cap table (00:49:04) Parting words: go clean up your cap table Learn more about us: https://startupignition.com/links Apply to be a guest on the pod: https://startup-ignition-podcast.paperform.co/ Follow John & Tyler: https://x.com/trich_ https://www.linkedin.com/in/johnrichards/ Subscribe on YouTube: https://www.youtube.com/@StartupIgnition Follow on X: https://x.com/startupignition Follow on Instagram: https://www.instagram.com/startupignition/ Follow on TikTok: https://www.tiktok.com/@startupignition Follow on LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/ Follow on Facebook: https://www.facebook.com/startupignition/ #StartupIgnition #StartupPodcast #CapTable #FounderVesting #Rule83b #409AValuation #StockOptions #EquitySplits #StartupAdvice #AIStartups #IsSaaSDead #VibeCoding #AICoFounder #Solopreneur #RemoteWork #VentureCapital #StartupFunding #StartupMistakes #FoundersGuide #PreSeedInvesting