In this episode, Carey Ransom breaks down what most startup founders get wrong — and how to actually build something worth scaling. From running a venture studio to building a fund that serves 100+ community banks, Carey shares his unique lens on early-stage startups, recruiting, product validation, and long-term thinking. If you're in the 0-to-1 stage or trying to understand the difference between building and optimizing, this episode will shift your perspective.If you're thinking about buying businesses, building a portfolio, or competing with billion-dollar companies, this episode is a masterclass.Sign up to our newsletter where the heavyweights of high finance share their off-market playbook: https://offmarketmemo.beehiiv.com/Timestamps:01:35 Carey’s journey: startup builder to venture partner04:25 The #1 mistake founders make06:40 “Just because you can build it doesn’t mean you should”07:27 What makes a founder lovable09:51 Every startup is a snowflake13:03 Why he chose VC over private equity15:58 His take on frameworks vs. just starting17:07 Resist the urge to keep building18:46 The truth about “breakthrough ideas”19:40 The model behind BankTech Ventures22:50 How he de-risks product-market fit24:26 Applying PE-style thinking to early stage27:00 How Operate and BankTech work together30:11 His unique vantage point between two worlds31:02 Why he cares so much about community banks33:45 His family’s legacy in banking35:21 Banks as the foundation of real communities37:10 “Everyone can teach me something”39:51 Advice to his younger self as a founder41:59 Why he became obsessed with recruiting44:46 The mindset shift that unlocked scale46:39 How he retains talent long term48:13 The #1 trait he hires for49:40 Why startup athletes are better than resumes51:25 How to match talent to company stage54:56 “I’m not building to get somewhere. I just love doing this.”57:57 Why 50% qualified is the sweet spot59:32 Carey’s definition of adventure in business