Episodios

  • Scott Johnson: Bootstrapping to a $1.5B Adobe Acquisition, Workfront, Motivosity, Product-Market Fit

    Scott Johnson: Bootstrapping to a $1.5B Adobe Acquisition, Workfront, Motivosity, Product-Market Fit
    Jun 19 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards sit down with Scott Johnson, the visionary founder behind Workfront (acquired by Adobe for $1.5 billion) and his current venture, Motivosity. Scott shares his incredible entrepreneurial journey, from bootstrapping Workfront (formerly @task) for over six years to navigating the dot-com bust and the 2008 financial crisis. He offers a transparent look at the challenges of scaling, including the difficult moment he was asked to step down as CEO, and how that experience ultimately inspired the creation of Motivosity. This conversation is packed with invaluable wisdom on achieving product-market fit, the critical importance of guarding equity, and balancing the intense demands of a startup with family life.

    (00:00:00) The Importance of Product-Market Fit & Guarding Equity
    (00:01:53) Introducing Scott Johnson: Founder of Workfront & Motivosity
    (00:05:45) Rapid Fire Icebreaker Questions
    (00:13:34) Scott's Early Career: From Near Eastern Studies to Tech
    (00:16:27) The Genesis of @task (Workfront)
    (00:20:31) Bootstrapping for 6.5 Years Through the Dot-Com Bust
    (00:24:35) Why and How Workfront Took Its First Investment
    (00:28:15) A Near-Miss Funding Round During the 2008 Crash
    (00:34:45) The Story of Stepping Down as CEO
    (00:40:19) The Founding of Motivosity: Turning a Painful Experience into a New Venture
    (00:45:11) How Motivosity Empowers Employees and Builds Culture
    (00:49:43) Why @task Rebranded to Workfront
    (00:51:50) The Core Mechanics of the Motivosity Platform
    (00:53:51) The Measurable Impact of Motivosity on Company Metrics
    (00:55:30) Advice for Founders: Don't Scale Until You Have Product-Market Fit
    (00:59:49) How to Balance an Intense Startup Schedule with Family Life
    (01:02:14) Final Advice: Be Generous with Cash, Not Equity
    (01:02:43) The Dangers of Dilution vs. a Founder-Friendly Exit


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    #ScottJohnson
    #Workfront
    #Motivosity
    #Adobe
    #Startup
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    #UtahTech
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    #Acquisition
    #GuardYourEquity
    #StartupAdvice
    #FounderStory
    #TechUnicorn
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    1 h y 5 m
  • Andrew Smith: From Tech to Restaurants, Problem Hunter Building a Food Empire, Scaling & Investing

    Andrew Smith: From Tech to Restaurants, Problem Hunter Building a Food Empire, Scaling & Investing
    Jun 13 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler sit down with Andrew Smith, the managing partner of Savory Fund and a serial entrepreneur defined as a true "problem hunter." Andrew shares his incredible journey, starting in the tech world during the dot-com boom with a revolutionary streaming media company. He details the highs of a near-IPO and the crushing lows of the bubble bursting, and how he pivoted to create two more successful tech companies by solving problems he encountered in his own life. The conversation then shifts to his unexpected entry into the restaurant industry, sparked by his wife's dream, and how the resilience of their first Kneaders franchise during the 2008 financial crisis revealed a massive opportunity. Andrew explains how he applied sophisticated, tech-style management to the food sector, scaling his operations from a single restaurant to a massive portfolio, eventually leading to the creation of the private equity firm Savory Fund.

    (00:00:00) The Dark Nights of a True Entrepreneur
    (00:02:11) Introducing Andrew Smith: Operator, Investor, and Problem Hunter
    (00:04:03) Icebreaker: A Food & Tech Brand Blitz
    (00:09:02) First Venture: Putting Jaguar Commercials on the Internet in 1998
    (00:13:53) The Dot-Com Bubble Bursts: Missing the IPO Window
    (00:17:42) Building and Selling Two More Tech Companies
    (00:20:46) A Leap of Faith: “I want to open a restaurant.”
    (00:23:25) Surviving the 2008 Crash and Discovering the Power of Food
    (00:28:26) Scaling Up: From One Kneaders to 50 Locations
    (00:30:57) Owning the IP: The Shift from Franchisee to Franchisor
    (00:34:15) Navigating the COVID-19 Pandemic as a Restaurant Operator
    (00:36:19) Why Companies That Survive Recessions Emerge Stronger
    (00:38:33) Why 2024 Was a Harder Year Than 2020
    (00:43:54) The Birth of Savory Fund on a Racetrack
    (00:47:31) Why Now is the Best Time to Invest
    (00:50:33) Applying Tech Sophistication to a "Mom and Pop" Industry
    (00:51:33) What Makes a Promising Brand Worth Investing In
    (00:54:13) The One That Got Away: A Missed Opportunity with Crumbl
    (00:56:24) A Lesson for Every Founder: Good Times and Bad Times Will Pass
    (01:01:04) Final Advice for Young Entrepreneurs
    (01:02:39) The Danger of Skipping Steps

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    #AndrewSmith
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    1 h y 5 m
  • "This Is a DEAL KILLER": VC's Pre-Seed Due Diligence Checklist, Cap Table, Rule 83B, Founder Equity

    "This Is a DEAL KILLER": VC's Pre-Seed Due Diligence Checklist, Cap Table, Rule 83B, Founder Equity
    Jun 5 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dive deep into the world of pre-seed due diligence. They outline the critical checklist they use as venture capitalists to evaluate early-stage companies, providing invaluable insights for founders preparing to fundraise. The discussion covers essential legal and financial structures, including the importance of a C-corp for QSBS benefits, the deal-killing implications of messing up the Rule 83B election, and how to maintain a "clean" cap table. They reveal common red flags like 50/50 founder splits, undocumented equity promises, and misaligned deal terms. Beyond the paperwork, they emphasize the necessity of rigorous business model validation and a deep understanding of the competitive landscape, explaining why a lack of proof is an immediate deal-killer.

    (00:00:00) The common mistakes that make a pre-seed company uninvestable
    (00:00:46) The Rule 83B test: How to know if you have the right startup attorney
    (00:01:00) Why raising too much money at too high a valuation is a nefarious problem
    (00:03:04) What's the one book every entrepreneur should read?
    (00:04:24) Favorite productivity tools and the rise of AI as a co-pilot
    (00:07:19) An OG take: Is AI making us lazy, or is it just the new calculator?
    (00:10:17) The most memorable pitch: One great example and one disastrous one
    (00:15:04) The one piece of advice John and Tyler would give their younger selves
    (00:16:48) Learning not to be intimidated by the "titans of industry"
    (00:18:29) What's next on the adventure bucket list?
    (00:20:13) A challenge: 100k followers and the team goes to the Masters
    (00:25:20) Breaking down the pre-seed due diligence process for investors and founders
    (00:27:31) Why a C-Corp and the Qualified Small Business Stock (QSBS) exemption are crucial
    (00:32:22) The critical importance of the Rule 83B election and founder vesting
    (00:38:54) What is a "messed up cap table" and what are the biggest red flags?
    (00:41:17) Why 50/50 founder splits are a deal-breaker for investors
    (00:43:29) The problem with non-operational shareholders on the cap table
    (00:45:33) Why debt must be handled before an equity investment
    (00:48:10) Proving your business model: Why validation efforts are non-negotiable
    (00:51:50) The #1 reason a deal gets killed: Lack of proof of validation
    (00:52:59) How to properly analyze and present your competitive landscape
    (00:55:28) How misaligned deal terms and valuation can kill an otherwise great deal
    (00:58:34) The dangers of raising too much money too early
    (01:02:43) Why alignment between founders and investors is the key to building a great business

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    #PreSeed
    #DueDiligence
    #VentureCapital
    #StartupFunding
    #AngelInvesting
    #CapTable
    #Founder
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    #LeanStartup
    #StartupIgnition
    #Pitching
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    #Validation
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    #StartupTips
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    1 h y 5 m
  • Travis Cook: The AI Software Revolution, Building a Top Dev Shop, Blockchain, Startup Investing

    Travis Cook: The AI Software Revolution, Building a Top Dev Shop, Blockchain, Startup Investing
    May 30 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler are joined by seasoned entrepreneur, investor, and mentor Travis Cook. They dive into Travis's journey, starting with his early days as a Java developer in 1996, co-founding Solution Stream, a pioneering custom software development shop that significantly impacted Utah's tech scene. The conversation explores his experiences as CEO of Apigo (now Taskfire) and President of Nerd United, a blockchain-focused venture. Travis shares deep insights into the evolution of software engineering with the advent of AI, the pros and cons of service-based versus product-based businesses, the tumultuous world of blockchain and cryptocurrency, and his current ventures in AI applications and startup investing. The discussion also touches on the future of work, the impact of AI on hiring, and valuable advice for aspiring entrepreneurs.

    (00:00:00) The future of software engineering with AI
    (00:01:35) Introducing guest Travis Cook: entrepreneur, investor, mentor
    (00:04:23) Icebreaker game: Startup Instincts
    (00:09:14) Travis Cook's journey: From Atari to co-founding Solution Stream
    (00:15:04) Navigating the dot-com bust with Solution Stream
    (00:17:20) Scaling Solution Stream: From startups to enterprise clients
    (00:23:26) Exiting Solution Stream: Valuing service vs. product businesses
    (00:28:37) Advice for founders: Service business vs. product startup
    (00:30:33) Experience with Apigo (Taskfire): A B2C product journey
    (00:33:57) Nerd United: Building a blockchain economy and hiring 300+ engineers
    (00:38:07) Understanding blockchain, decentralization, and Bitcoin
    (00:41:30) Challenges with the SEC and the crypto regulatory landscape
    (00:45:44) The current state of Nerd United and the product-first philosophy
    (00:46:36) Travis Cook's outlook on crypto, blockchain, and DeFi's future
    (00:49:15) Venture capitalist sentiment on crypto and blockchain investments
    (00:52:08) AI's impact on software development: 1 person doing the work of 10
    (00:53:51) How dev shops like Solution Stream adapt to AI
    (00:55:37) The broader societal shifts: From Information Age to AI Age
    (00:59:13) Speculating on the future of work for those displaced by AI
    (01:02:41) Travis Cook's current focus: Investing, AI projects, and coaching
    (01:06:59) Travis's top two tips for new entrepreneurs

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    #StartupIgnition
    #TravisCook
    #Entrepreneurship
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    #DevShop
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    #Blockchain
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    #ProductVsService
    #UtahTech
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    1 h y 11 m
  • Craig Earnshaw: Destructive Founder Splits & Pitching Investors Confidently, Angel Investing, Exits

    Craig Earnshaw: Destructive Founder Splits & Pitching Investors Confidently, Angel Investing, Exits
    May 15 2025
    In this episode of the Startup Ignition Podcast, hosts Tyler and John Richards sit down with Utah startup legend, Craig Earnshaw. Craig shares his incredible entrepreneurial journey, from his early days as a programmer to founding, selling, rebuying, and re-selling his software company, LifeLK Corporation, including a dramatic experience during the dot-com bust with GE and ChannelPoint. He discusses his transition into angel investing, becoming a founding member of Park City Angels, and his influential role as an adjunct professor at BYU. Craig dives deep into his investment philosophy, emphasizing the importance of investing at the earliest stages, the critical role of the founding team (and why equal partnerships often fail), the necessity of true product-market fit, and the art of managing expectations. He also shares invaluable insights from his iconic investments like Property Solutions (Entrata) and Podium, and offers powerful advice for founders on raising capital and navigating the startup world.(00:00:00) Welcoming Utah Startup Legend Craig Earnshaw(00:02:30) Icebreaker: One-Word Answers on Startups & Investing(00:10:30) Craig's Origin Story: From CS Grad to Founding LifeLink Corporation(00:17:09) The GE Investment & Navigating the ChannelPoint Dot-Com Saga(00:24:20) Reclaiming His Company: Owning 100% of LifeLink(00:27:22) A Mission Call and Selling LifeLink from Brazil(00:32:44) The Decision Not to Start Another Company Post-Exit(00:35:00) Becoming an Angel Investor & Teaching at BYU(00:42:26) Craig's First Major Angel Deal: Property Solutions (Entrata)(00:46:33) Investment Strategy: Holding Long-Term (Entrata, Podium) & When to Exit(00:51:09) The Perils of Over-Raising and Inflated Early Valuations(00:54:16) Craig's Advice: Raise as Little as Possible, As Late as Possible(01:00:20) Evaluating Investments: The Critical Importance of the Team & No Equal Partners(01:03:25) The Entrepreneurial Superpower: Learning to Manage Expectations(01:07:14) A Mindset Shift: Founders are Solving Investors' Problems(01:10:08) Unpacking True Product-Market Fit and the Dangers of Churn(01:12:21) Craig's Legacy and Impact on the Utah Angel Investing SceneJoin our online academy for free:https://startupignition.com/academyApply 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/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#AngelInvesting#StartupUtah#CraigEarnshaw#EntrepreneurJourney#VentureCapital#StartupFounder#BusinessGrowth#InvestmentStrategy#ProductMarketFit#BYUFounders#TechStartups#ExitStrategy#Mentorship#StartupAdvice#EarlyStageInvesting#UtahTech#SoftwareBusiness#DotComBubble#FounderStories#StartupIgnition
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    1 h y 16 m
  • Brian Beutler: Pitching Genius Raises $100M at Alianza, VOIP-2-Cloud Pivot, CEO of the Year Insights

    Brian Beutler: Pitching Genius Raises $100M at Alianza, VOIP-2-Cloud Pivot, CEO of the Year Insights
    May 8 2025
    In this episode of the Startup Ignition Podcast, we're joined by the remarkable Brian Beutler, CEO and founder of Alianza, and Utah Business CEO of the Year 2025. Brian takes us on an incredible two-decade journey of building Alianza, a leading cloud communications platform. From its early days as a VOIP disruptor born out of a BYU business plan competition to navigating multiple near-death experiences – including the 2008 financial crisis, competitive pressures, and major customer bankruptcies – Brian shares invaluable lessons in resilience, strategic pivoting, and the art of the investor pitch. Discover how Alianza not only survived but thrived, culminating in a game-changing acquisition of a Microsoft business unit and scaling to 700 employees across 20 countries. This is a masterclass in entrepreneurial grit, navigating funding rounds, and the relentless pursuit of a vision.

    (00:00:00) Introducing Brian Beutler, CEO of Alianza
    (00:01:10) Brian's Legendary Investor Pitching Skills
    (00:04:07) Icebreaker: Tech This or That
    (00:09:56) Early Days: Get Phone & Catching the VOIP Wave
    (00:17:46) Identifying Market Shifts & Being "In the Game"
    (00:20:07) Alianza's Genesis: BYU Business Plan Competition
    (00:27:24) The Art of the Pitch: Preparation & Mentorship
    (00:32:46) Alianza 1.0: Raising $2M and Early Growth
    (00:35:02) The 2008 Financial Crisis Hits Hard
    (00:38:07) Near-Death #1: Funding Falls Apart & Payroll Tax Issues
    (00:44:09) The AT&T "Partnership" & Asset Sale
    (00:46:10) Alianza 2.0: Pivoting to a Cloud Platform
    (00:49:42) Recapitalizing: The "Pay to Play" Down Round
    (00:55:03) Near-Death #2 & #3: Rural Broadband Collapse
    (00:57:01) The "Conniving Plan" to Land Anchor Customers
    (01:01:19) Near-Death #4: Major Customer Acquired & Shut Down
    (01:04:08) Acquiring a Microsoft Business Unit
    (01:07:04) Taking Chips Off the Table: Founder Liquidity
    (01:10:42) Alianza's Funding Journey & Investor Outlook
    (01:13:21) Scaling to 700 Employees Across 20 Countries
    (01:15:01) Brian's Advice: Resilience in Entrepreneurship

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    #StartupIgnition
    #BrianBeutler
    #Alianza
    #Entrepreneurship
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    #CloudCommunications
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    1 h y 18 m
  • Evan Teshima: Bootstrapping ForeUP to a Massive SaaS Exit and the $400k Chess Game

    Evan Teshima: Bootstrapping ForeUP to a Massive SaaS Exit and the $400k Chess Game
    May 1 2025
    In this episode of the Startup Ignition Podcast, we sit down with Evan Teshima, founder and former CEO of ForeUP, a massive bootstrapped success story in the golf tech SaaS space. Evan shares his incredible journey from meeting John in a BYU classroom, enduring 5-7 rapid pivots during an accelerator program, navigating a near-death convertible note crisis resolved by a $400,000 chess game and desperate calls to family, scaling to over 2,300 golf courses with only $200k in outside capital, and ultimately achieving a huge acquisition with tax-free gains. Hear war stories, lessons on founder-led sales, customer-funded growth, and the true reward of the entrepreneurial grind (including retirement on a beach in Hawaii!).

    (00:00:44) Met John in school, he was my teacher
    (00:13:59) My first idea was a toilet seat controlled by a lever
    (00:16:25) I literally stood up... mark my words, this is gonna be the best company
    (00:19:39) Literally you pivoted somewhere between five and seven major times in about three months
    (00:24:43) My stinking point of sale is a POS... This thing sucks
    (00:25:22) Literally the software looked like Oregon Trail
    (00:28:46) Judy Flint... she was our first customer
    (00:31:31) Now we'll buy it
    (00:37:08) They raised $200,000 and no more equity investment after that? Yes, period.
    (00:38:13) The hotels that we went to were the most janky hotels
    (00:42:56) If there's anything that we did right it was founder led sales
    (00:47:00) This note's coming due... valuation will drop from 1.5 to 500,000
    (00:50:19) Per that paragraph, I'm notifying you of my intent to convert right now
    (00:53:14) Got some pretty nasty phone calls when they received those checks
    (00:55:03) I had to do the hardest thing of my life. I called my mom
    (00:58:29) Do you know what I thought? I go this guy's really good at golf...There's no way he's good at chess. So what happened?
    (00:59:55) Close to 400 grand
    (01:02:45) Was that an inflection point? Was that a tipping point for ForeUP, like getting Brendan in the CTO role? It was.
    (01:07:48) You built it to 10 million dollars in revenue basically off of... for a huge exit
    (01:08:03) The first 10 million for each of us tax was tax free
    (01:15:39) I'm on the beach with an umbrella drink in my hand right now
    (01:23:43) There was a company out there... raised $40 million... Had to fire. Sell.
    (01:24:13) Enjoy the journey

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    #StartupIgnition #Entrepreneurship #Bootstrapped #SaaS #GolfTech #StartupLife #FounderStory #BusinessGrowth #Acquisition #VentureCapital #AngelInvesting #WarStories #ProductMarketFit #Pivot #ConvertibleNote #FounderLedSales #CustomerFunded #BYU #TechStartup #ExitStrategy
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    1 h y 28 m
  • Eric Smith: Smart Home Legend, Hotel Internet Inventor, Control4 IPO, & Founder Lessons That Matter

    Eric Smith: Smart Home Legend, Hotel Internet Inventor, Control4 IPO, & Founder Lessons That Matter
    Apr 25 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards sit down with Eric Smith, a true pioneer and legend in the smart home industry. Currently the CTO of Savvy IQ following a recent merger with Oliver IQ, Eric shares his incredible entrepreneurial journey, starting from building home automation systems as a teenager. He recounts co-founding the iconic Control4, taking it public in 2013, and his earlier ventures like FAST (sold to AMX) and STSN/iBahn, which brought high-speed internet to hotels but faced the .com crash during its IPO process. Eric discusses raising over $400 million in venture capital, navigating non-competes, the excitement and frustrations of the IPO roadshow, landing massive deals unexpectedly (like MGM Mirage), and the evolution of smart home technology leading to his current work integrating disparate devices with AI. He also offers invaluable advice for aspiring entrepreneurs rooted in passion and solving real-world problems.(00:00:00) Welcoming Eric Smith, CTO of the newly merged Savvy IQ(00:01:32) Why Eric switched from Electrical Engineering to Computer Science(00:03:00) Eric's earlier ventures: FAST selling to AMX and STSN/iBahn(00:04:00) Icebreaker Game: 100% of $10M vs 5% of $500M?(00:06:17) Icebreaker Game: Google Search 1998 vs OpenAI 2023?(00:08:03) Icebreaker Game: Deeply Proud Niche vs Embarrassing Mass Product?(00:09:20) Icebreaker Game: Founder vs VC during the .com Bubble?(00:11:05) Eric's origin story: Building home automation in middle school(00:13:52) Meeting Will West and co-founding Synergy while at BYU(00:16:10) Starting FAST after the Synergy sale(00:17:24) What FAST's products were (early Control4)(00:18:35) The 5-year non-compete and starting STSN (hotel internet)(00:21:40) Using DSL technology to bring internet to hotel rooms(00:23:50) STSN's near-miss IPO during the .com crash(00:26:07) Getting pushed out of STSN/iBahn and starting Control4(00:29:05) Control4's unique approach: Wireless, retrofit, lower cost(00:33:08) Landing the massive MGM Mirage Las Vegas deal by accident(00:37:55) The Control4 IPO experience: Process and pricing frustrations(00:43:18) How Google buying Nest impacted Control4's stock post-IPO(00:45:40) Post-Control4: Seeing the fragmented smart home market need(00:47:42) The vision for Oliver IQ: Integration and managed services(00:48:16) Leveraging Generative AI for natural language home programming(00:49:47) The recent merger creating Savvy IQ(00:51:58) Eric's industry awards (CEDIA, CTA) and CES Board involvement(00:53:27) Reflections on Utah's evolving entrepreneurial ecosystem(00:58:00) Core advice for entrepreneurs: Solve real problems with passion(01:01:20) The future of connected devices and the "Negroponte Flip"(01:03:40) Wrapping up and final thoughtsJoin our online academy for free:https://startupignition.com/academyApply 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/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#EricSmith#Control4#SavvyIQ#OliverIQ#SmartHome#HomeAutomation#InternetOfThings#IoT#Startup#Entrepreneurship#VentureCapital#IPO#UtahTech#SiliconSlopes#CES#STSN#iBahn#TechPioneer#Innovation#GenerativeAI
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