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Startup Ignition Podcast

Startup Ignition Podcast

By: John & Tyler Richards
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Summary

 Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.Startup Ignition Academy, Inc. Economics Leadership Management Management & Leadership
Episodes
  • Matty Gay: Building Primo Golf, Signing Phil Mickelson, Grant Horvat & Ecommerce Apparel

    Matty Gay: Building Primo Golf, Signing Phil Mickelson, Grant Horvat & Ecommerce Apparel
    May 7 2026
    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 4Up. 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 4Up
    (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
    Show More Show Less
    1 hr and 17 mins
  • Blake Modersitzki: Pelion VC, Venture Returns, AI, War Stories, Top Deals & Scale

    Blake Modersitzki: Pelion VC, Venture Returns, AI, War Stories, Top Deals & Scale
    Apr 30 2026
    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
    Show More Show Less
    1 hr and 11 mins
  • Cap Table Red Flags: AI Rewriting Startup Investing, SaaS, Solopreneurs, Founder Splits & Vesting

    Cap Table Red Flags: AI Rewriting Startup Investing, SaaS, Solopreneurs, Founder Splits & Vesting
    Apr 16 2026
    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
    Show More Show Less
    51 mins
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