EP-02A: The Aftershow with Michael Palank and Nelson Mills - Visionary Leadership from Brett Adcock

TLC Equation with Joe Musselman

This is TLC Equation: The Aftershow. Simply defined, an Aftershow is when we gather together immediately after a meaningful performance. Each aftershow, we'll highlight moments from our main episode conversations and what ideas resonated deeply with our founders. The founders that appear on our Aftershows are currently in build mode.

They have taken a moment to stop, be present with us and share with our audience, how TLC Equation spoke to them on their journey. In this episode, we hear from Michael Palank, an investor general partner, and Nelson Mills, a founder and CEO. Both are exceptional entrepreneurs dedicated to investing their time into ideas that matter.

Join us and welcome to TLC Equation, The Aftershow, where we will dive deep and reflect on our time spent with Brett Adcock, Founder and CEO of Figure.

(Vision x Mission x Values)^10 / (Principles + Ethos) = Teams, Leadership, Culture

—

Guest Bios:

Michael Palank:

Michael Palank has been General Partner at MaC Venture Capital since its inception in January 2019. At MaC, Michael focuses on seed-stage consumer and enterprise startup investing across a number of sectors. Before that, he was General Partner at M Ventures, a Los Angeles and Bay Area-based early-stage venture fund. Michael was a member of the founding team of MACROMedia, a disruptive media company founded by Charles D. King. He focused on the multicultural market, where he led digital strategy and operations. Michael has six and a half years of experience working both inside and alongside early-stage startups in the media and technology sector. He ran business development and became GM of TopFloor, a venture-backed e-commerce startup formed out of the technology studio Science. Additionally, Michael has consulted with over two dozen startups, aiding in business model development, financial modeling, and early-stage fundraising strategy. Michael worked closely with LA-based media and events company BeautyCon on their initial seed round, which included investments from Hearst, Raptor Group, CAA, Maker Studios (now with Disney), and Fullscreen (now with AT&T). Michael entered the LA tech ecosystem in 2012 as a new business consultant for Amplify, one of LA’s top incubators turned early-stage venture capital firms. Prior to working in startups, Michael spent eight years working in media and entertainment, first as an agent trainee and agent at The William Morris Agency and then as Director of Business Development at Will Smith’s production company, Overbrook Entertainment. Michael started his career as a financial analyst at the Chicago-based hedge fund Coghill Capital Management. He has degrees in finance, accounting, and psychology from DePaul University, where he graduated with honors in the top 5% of his class.

Nelson Mills:

Nelson Mills, the founder and CEO of Vatn Systems, led hull development at Pure Watercraft, a boating startup that secured over $170 million in funding. With a background spanning operating and venture capital roles at Link Ventures, Lux Capital, and Global Founders Capital, Nelson brings a wealth of experience in product development and fundraising to his leadership at Vatn. Nelson holds both a BA and MBA from Columbia University.

—

Guest Quotes:

“I think the question of like how we keep instilling those values, I mean, I think hobbies whether that's music or running or lifting, whatever it is, can still instill like many values. And like making sure that your kids learn kind of those fundamental skills is important. And I think just because there's other people to do it, you know, my dad didn't call a plumber. He's like, Nelson, come change this toilet, right? So instead of calling the robot to change the toilet, have your kid do it. You just have to make sure you keep instilling those values and putting limits on technology, right? Just like a lot of parents today put limits on screen time if they're smart about it.” - Nelson Mills

“I spent a decade working in Hollywood and got to know some really amazing artists. And it was always interesting to me, and maybe like, Prince may have been the highest profile of someone who definitely is seen from the outside as this genius and groundbreaker. And then you get to sort of, not that I really got to know him, but you get to know him better than the average person. And you realize, just what you said, Joe, is these people kind of don't see themselves as these extraordinary individuals, as crazy as that may sound, or as these geniuses. I mean, clearly, they all have their unique characters, but they're just them. This is their life. It's kind of all they've known. And it's empowering. Because, Steve always said, this is like the greatest moment of freedom, is when you realize you can have any impact on the world that you want to have. Like anyone can make a difference. You don't need to be seen as a genius or super special. And in getting to know Prince, he was a guy from Minnesota and, and I'm like, wow. This guy just looks at himself like he's just a normal person, but how is that even possible? He’s Prince, and that was just eye-opening to me. And it was empowering. I'm like I never saw myself as being especially important. I didn't have any kind of unique upbringing or anything. But I'm like, if Prince feels that way, then maybe I can go on to do something extraordinary.” - Michael Palank

“All founders at some point have a vision. They see the way the world can be if they did this thing and how it would work if they got there. So that's why the first variable of TLC equation is vision. Now, what happens when you have a vision? You start to profess it. You start to talk about it. You start to bring people into that vision with you, and vision is not something that's moving. If you think about a vision, it's like a moment in time. And so when you have this vision, it's stagnant, it's a moment. And that moment is every, all of your successes, if you were to have them, and what that moment would look like. When you profess that enough, what do you attract? Missionaries. You attract missionaries to the vision. Vision, mission, right? When you have a collection of missionaries, now you have what? A collection of values. So the first part of TLC equation is VMV. Every founder's journey happens in that exact same way.” - Joe Musselman

—

Timestamps:

*(00:00) Intro

*(08:34) Nelson's mentors during his career

*(14:25) How your upbringing serves as a mentor

*(18:04) Mike and Nelson's key parental lessons

*(25:53) Reviving risk and the 'Kelly Johnson' era in our society

*(29:31) Evolving values and embracing speed in tech

*(34:20) Significance of rapid product shipping in business

*(41:45) Urgency and necessity of mission-driven vision in founders

*(50:27) Humanoid vs. futuristic robots: Navigating comfort in AI designs

*(58:15) Technology's potentially harmful impact on societal values and cultural lessons

*(1:06:19) Mike and Nelson's standout moments from the interview with Brett

*(1:17:10) Go-to questions for unexpected insights

*(1:27:18) Lightning Round: Opening and final line of memoir

—

Sponsors:

The TLC Equation is brought to you by Bravo Victor Venture Capital. BVVC is a dual-horizon venture fund dedicated to accelerating proven national security technology while allowing first-look access to special operations and the commercial sector partners that matter most. Let's reimagine defense to protect our future - together. Visit BV.VC to learn more.

The TLC Equation is brought to you by Semper Stronger, a curated community of strength-seekers and personal limit pushers. Founded by Rebecca Rouse and Joel Del Rosario, their workouts, whether centered around the finesse of a kettlebell or the might of a barbell, are designed for the dedicated, those who pursue mastery with every heartbeat. For those with an insatiable thirst for excellence, where challenges are but milestones on the road to greatness, Semper Stronger is your anthem. Visit SemperStronger.com to learn more.

—

Guest Links:

• Connect with Michael on LinkedIn
• Follow Mac Venture Capital on LinkedIn
• Connect with Nelson on LinkedIn
• Follow Vatn Systems on LinkedIn

TLC Equation Links:

• Connect with Joe on LinkedIn
• Visit the TLC Equation website

Follow us on Social:

• Twitter
• Instagram
• Facebook
• LinkedIn
• Youtube