In this episode of Be Epic, Matt sits down with Steve Nelson, co-founder of 3-D printing technology company Carbon, Inc and empowerment initiative Re Inc. Steve is an investor, entrepreneur and board member who shares his journey from IBM to Wakefield Group to launching several successful start-ups along with his recent move to Northwest Arkansas.
co-founder at Carbon Inc, and co-founder of Re
Matt Waller:Inc. Steve has tremendous experience as a financier, as a
Matt Waller:entrepreneur and as a leader, and he has lots of board
Matt Waller:experience as well. Thank you so much, Steve, for joining me
Matt Waller:today. I really appreciate it.
Steve Nelson:Matt. Delighted to have the conversation. Thanks so
Steve Nelson:much for including me.
Matt Waller:You really have a tremendous background in so many
Matt Waller:things. I know when you started your career, you were at IBM and
Matt Waller:you were there for 14 years and left as vice president and
Matt Waller:general manager. Rather than talk about the earlier days in
Matt Waller:your career, I would like to start a little bit sooner. Start
Matt Waller:by talking a little bit about your experience with Wakefield
Matt Waller:Group as managing partner. And Wakefield is a venture capital
Matt Waller:firm for those listening.
Steve Nelson:Sure, maybe we'll describe a little bit this whole
Steve Nelson:notion of Synchro destiny, which you and I have had some fun
Steve Nelson:conversations about before. But it was a bit fortunate for me
Steve Nelson:that I was with a person that was looking for somebody to kind
Steve Nelson:of come in and be the new Research Triangle Park, North
Steve Nelson:Carolina General Partner and ultimately to be the managing
Steve Nelson:general partner of the firm. And I ended up being in New York
Steve Nelson:City offering advice on folks that might be good. And then I
Steve Nelson:said, you know, if not for the fact that I love what I'm doing
Steve Nelson:in California, we're raising our children. They're only five and
Steve Nelson:seven, we have a great place, great lives. If not for that, I
Steve Nelson:might be interested. I was surprised to hear myself say it.
Steve Nelson:Surprised to get the question. I think they were surprised to
Steve Nelson:hear me say it. And they asked me to put my thoughts together
Steve Nelson:and fly to Charlotte, North Carolina. In this case, from the
Steve Nelson:Bay Area. I lived in East Bay and I lived and worked in
Steve Nelson:Silicon Valley, I guess for seven years. Before I knew it. I
Steve Nelson:was moving to North Carolina and I was basically asked to be the
Steve Nelson:managing general partner of Wakefield Group, which is a
Steve Nelson:private investment vehicle for an amazing family, the Spangler
Steve Nelson:family out of Charlotte. They'd be a first generation success
Steve Nelson:story that would have gone long in Charlotte banking. That thing
Steve Nelson:is now called Bank of America went long and building products.
Steve Nelson:So what long in a bunch of industries almost a Warren
Steve Nelson:Buffett of the South, just an incredible family. And I got
Steve Nelson:asked to be their person, that was an amazing 14-year almost
Steve Nelson:15-year run for me ultimately kind of covering private
Steve Nelson:investment. Think of it as more venture capital with some growth
Steve Nelson:equity investing in and around the southeast with a base and
Steve Nelson:Research Triangle Park. I learned enormously from my
Steve Nelson:partners, but enormously on the job by doing the job.
Matt Waller:Still, it was a big change for you in many different
Matt Waller:ways, not only in terms of location, but you had been
Matt Waller:involved in IBM, you've been involved in a software company
Matt Waller:Informix. And you'd been involved in a digital sports
Matt Waller:media company, a tremendous experience. But this seemed to
Matt Waller:be a bit of a change in terms of your path. Is that right? In my
Steve Nelson:I'd say in a way yes. But the last role that I
Steve Nelson:had, I jokingly referred to myself getting bigger and bigger
Steve Nelson:jobs and smaller and smaller companies from IBM to Informix
Steve Nelson:software to this fun little company called Quokka Sports
Steve Nelson:which was a digital sports company that ultimately went
Steve Nelson:public. In that role, I kind of learned that company creation
Steve Nelson:business, and I was the one that Quokka Sports, I joined that
Steve Nelson:thing. We had no money. I'm like thinking back on what was I
Steve Nelson:thinking? We had no money. Two lovely young children. I had no
Steve Nelson:way to pay myself. But somehow I wanted to be that first kind of
Steve Nelson:senior executive behind the co founders. And I was raising the
Steve Nelson:money. And ultimately, a great group called Accel Partners
Steve Nelson:became our lead investor. So I kind of learned the venture
Steve Nelson:business by being on the inside of a young company. And I kind
Steve Nelson:of saw it from the ground up. So I was on the other side. And I
Steve Nelson:often think that the best way to be in a lot of businesses is to
Steve Nelson:see it from different perspectives. So the fact that
Steve Nelson:I'd been a young company person, but maybe trained in big,
Steve Nelson:important companies, too. Before I knew it, I felt like I knew
Steve Nelson:the VC business pretty well. So all of a sudden, now I'm the one
Steve Nelson:when I joined Wakefield Group to try to assess it from the other
Steve Nelson:side and try to help it add value to the companies we decide
Steve Nelson:to go back to invest in.
Matt Waller:Boy, that's so true. And you know, some of the
Matt Waller:extremely successful business people I've interviewed on
Matt Waller:podcasts, I've seen this as a pattern. You know, some people
Matt Waller:want to stay in the same line of business or in the same vertical
Matt Waller:or same function within a company. But sometimes, you
Matt Waller:know, whether you're in a company getting different
Matt Waller:functional experience, or going to other companies and seeing
Matt Waller:things from different perspectives, it really gives
Matt Waller:you an advantage in future years.
Steve Nelson:I completely agree. I mean, I jokingly think
Steve Nelson:of it as kind of forks in the road that you look at every
Steve Nelson:two to three years to assess whether you're learning,
Steve Nelson:growing, developing and still getting excited every day. And I
Steve Nelson:started thinking if it wasn't for the first path, I was at
Steve Nelson:IBM, as you said, for almost 15 years, the fact that I was
Steve Nelson:willing to join a Silicon Valley based software company, I didn't
Steve Nelson:have to do that either. And didn't have to take other
Steve Nelson:functions that IBM or other moves at IBM and you think of
Steve Nelson:your patchwork body of work is all based on kind of those
Steve Nelson:choices. In many ways. I think there's the choices we make that
Steve Nelson:are the most important thing. And for me, it's all about
Steve Nelson:vitality, learning, growing and getting energized and I always
Steve Nelson:do that when I'm growing and developing with amazing new
Steve Nelson:people where I think I can learn and contribute in some way.
Matt Waller:I'd like to skip up to Carbon, the fun one. You
Matt Waller:co-founded that in 2013. So you've been engaged there for
Matt Waller:eight years. But would you tell us a little bit about that
Matt Waller:story?
Steve Nelson:Yeah, it's a a joy that's still being told. And
Steve Nelson:it's amazing book instead of chapters were the next chapters
Steve Nelson:are still to be told as well. But I then ran this Wakefield
Steve Nelson:Group venture firm. So I felt like I had been in the company
Steve Nelson:creation business, trying to back people that wanted to
Steve Nelson:change the world. And I thought in many ways, it was like
Steve Nelson:America's great business that I had, that involved investment
Steve Nelson:judgment and company building skills. But I noticed that what
Steve Nelson:I loved the most about being an investor was helping the
Steve Nelson:companies because I felt like I go back to my IBM or Informix or
Steve Nelson:Quokka Sports days, I got a real joy out of being on the inside.
Steve Nelson:So I was invited by people that I knew, the people that I
Steve Nelson:invested in, people that we had actually had an investment in,
Steve Nelson:we called liquidity of technologies, taking a company
Steve Nelson:public. In fact, I was on the board, I was the lead investor,
Steve Nelson:I got drafted from and by the board to actually be the CEO for
Steve Nelson:18 months when we were making a leadership transition at the
Steve Nelson:time at the company. And one of my friends that I knew well from
Steve Nelson:liquidia said, Hey, we got this really cool 3D printing company
Steve Nelson:idea. Love to run it by you. Love to get your thoughts. Maybe
Steve Nelson:you want to be an investor, an advisor, launch president,
Steve Nelson:somehow get involved. And I'm like, well, this is like really
Steve Nelson:interesting. Tell me more. At the same time, I also had plenty
Steve Nelson:on so I wasn't really looking to do new things. And I guess, back
Steve Nelson:to my forks in a road, this might have been 2013 or
Steve Nelson:something like that. They kind of say overnight on a text
Steve Nelson:exchange, what do you think about coming to join us as one
Steve Nelson:of the four co-founders, two professors, a theoretical
Steve Nelson:physicist from Moscow State and me, and I didn't want to have
Steve Nelson:any sense of imperialism. I was going to be the CEO. But I
Steve Nelson:called myself in my own mind chief business guy. But these
Steve Nelson:were extraordinary people that I knew really well, so I knew who
Steve Nelson:I was getting into business with. But I also joined the
Steve Nelson:company at the time, we had $9,200 in the bank. We owed
Steve Nelson:lawyers $72,000. We had a printer made out of wood, and we
Steve Nelson:were going to try to change manufacturing worldwide. We
Steve Nelson:wanted to change the way things were made. And I knew how
Steve Nelson:extraordinary my partners were in many ways. I felt honored to
Steve Nelson:be their partners. So they built this first 3D printer for 200
Steve Nelson:bucks in Dr. Alexander Ermoshkin's home. He's one of my
Steve Nelson:co founder partners; he and his son built it. They're amazing
Steve Nelson:folks. And if you think of building a 3D printer made out
Steve Nelson:of wood, a broken projector off of eBay, a stepper motor from
Steve Nelson:Radio Shack, and some materials, I think, from Lowe's and maybe
Steve Nelson:Ace Hardware, both plywood and resins or chemical materials,
Steve Nelson:and it ended up also they came up with really what they called
Steve Nelson:a window or a way of actually producing the 3D printed parts.
Steve Nelson:I call it a magic window they dreamed up and I had some
Steve Nelson:probably the best polymer chemist in the world and one of
Steve Nelson:the best entrepreneurs in the world. Now Dr. Joe DeSimone is
Steve Nelson:one of my partners they came up with I was just the lucky
Steve Nelson:beneficiary of a contact lens type of material that was
Steve Nelson:transparent to light, permeable to oxygen, and you could 3D
Steve Nelson:print in a photo chemical way, not in the electromechanical way
Steve Nelson:of the previous 25 years. All of a sudden, we had a 3D printer.
Steve Nelson:And I remember the first drawing was of an ice cube, but you
Steve Nelson:could 3D print 25 times, maybe even 100 times faster. So it was
Steve Nelson:kind of a breakthrough. We put all of our research and studies
Steve Nelson:into a research report into a paper. We debuted on the cover
Steve Nelson:of Science Magazine, on the floor of a TED talk in
Steve Nelson:Vancouver, and I was the one is my cheap business guys. Instead
Steve Nelson:of the VC world, so well, I went to Sequoia Capital who are for
Steve Nelson:Well, your investor group is really impressive Sequoia
Steve Nelson:sure the best venture capital firm in the world and for sure,
Steve Nelson:the best in history and one of my great friends was at the time
Steve Nelson:still a young and getting proven person named Jim Goetz who's now
Steve Nelson:gone on to become five years in a row, the number one tech
Steve Nelson:investor in the world Midas list number one, and we tried to
Steve Nelson:raise one to 2 million from Jim and we ended up getting a
Steve Nelson:commitment basically for them to lead a round of 11 million the
Steve Nelson:same afternoon we started. And it's kind of gone crazy good.
Steve Nelson:Four of us started with negative 63,000 bucks in the bank and now
Steve Nelson:we got 500 employees Silicon Valley based blue so the blue
Steve Nelson:chip and enterprise customers you name a prestigious
Steve Nelson:enterprise customer, we kind of have them. I call it a tiger by
Steve Nelson:the tail, for sure. And I went from CEO to becoming chairman.
Steve Nelson:We then recruited Alan Mulally, who iconically ran Ford, and was
Steve Nelson:the President/CEO of Boeing Commercial to join our board and
Steve Nelson:he's been amazing. And then even Ellen Kullman -- who I think
Steve Nelson:Alan helped recruit to the board, but Joe DeSimone's help
Steve Nelson:-- is now our CEO and she's the first woman in 212 years to run
Steve Nelson:Dupont. It's one of our big chemical suppliers. So it's been
Steve Nelson:this handoff of amazing talent to amazing talent. And now I
Steve Nelson:just feel like the lucky guy, just active co-founder, but
Steve Nelson:we've had a crazy fun run and I think the next chapters are
Steve Nelson:still to be told.
Steve Nelson:Capital, Silverlake, Google Ventures, Piedmont Capital,
Steve Nelson:Wakefield Group, GE Ventures, Fidelity, Johnson & Johnson,
Steve Nelson:BMW, IDs and more.
Steve Nelson:Yeah, we made $680 million nobody's been coming at us. We
Steve Nelson:haven't even really tried to raise it. It's phenomenal. So
Steve Nelson:we're super well capitalized got hundreds of millions of dollars
Steve Nelson:in the bank. And I guess one of the big recruits that we have
Steve Nelson:and I think about it was I met again through Jim Goetz is a bit
Steve Nelson:like going to to me, Steven Spielberg that knows who you
Steve Nelson:want in your movie if you want to have a blockbuster. Sequoia
Steve Nelson:introduced me to Craig Carlson. At the time, he was immediately
Steve Nelson:former original VP of Engineering at Tesla for Elon
Steve Nelson:Musk for the first eight years pre-revenue. And I got to meet
Steve Nelson:Craig on bench in his hometown. Fast forward a couple of months
Steve Nelson:and Craig Carlson is our chief technology officer. And we
Steve Nelson:probably have 35 or 40 Tesla people there. And we've got the
Steve Nelson:founding engineering head of Tesla is our head of
Steve Nelson:engineering. Greg has been phenomenal. Joe's son, Phil De
Steve Nelson:Simone has been phenomenal from the beginning is really the
Steve Nelson:Chief Business Development product person, he closes all
Steve Nelson:the big deals, we've got this amazing team, but it's a bit
Steve Nelson:again, back to my analogy of that Spielberg movie, everybody
Steve Nelson:watched the movie, everybody wants to invest, everybody wants
Steve Nelson:to join.
Matt Waller:you taking something that in my mind still
Matt Waller:is very new and cutting edge like 3D printing, and
Matt Waller:reinventing it that's quite remarkable. You had described to
Matt Waller:me before, when we met how this works, it does seem a little bit
Matt Waller:like magic.
Steve Nelson:Yeah, let me maybe describe it a little bit as if
Steve Nelson:you imagine Terminator 2 liquid metal man growing up out of the
Steve Nelson:broth out of a puddle, we literally do a CAD drawing of
Steve Nelson:anything, think of that magic window that's made out of that
Steve Nelson:contact lens kind of material. And we now have probably not
Steve Nelson:current, but 40 plus patents, maybe a couple 100 pending, so
Steve Nelson:it's truly new to the world. You literally do all that play a
Steve Nelson:movie of the part you want to produce, and it stays liquid at
Steve Nelson:the puddle on the magic window and you have a UV curable light,
Steve Nelson:I think it's a wavelength of 365, the same kind of DLP chip
Steve Nelson:you'd have in a movie theater, and you literally can pull the
Steve Nelson:product out of the broth or out of the lake. And if you've seen
Steve Nelson:again, Liquid Metal Man where they just grew up out of a
Steve Nelson:puddle, it's very similar. So as a result, it's a breakthrough 25
Steve Nelson:to 100 times faster, much less expensive, higher quality parts,
Steve Nelson:you can do used parts, instead of it being the parts that you
Steve Nelson:would use only for prototyping. It really changes supply chain
Steve Nelson:logistics, why would you make hundreds in advance if you don't
Steve Nelson:need them? Why don't you do it just in time? Why wouldn't you
Steve Nelson:bring some of those jobs or that capability back to the US? And
Steve Nelson:why wouldn't everything be made for you? Why wouldn't there be a
Steve Nelson:size mat for pretty much everything things in your feet,
Steve Nelson:maybe things in your ears, maybe medical devices, I mean, kind of
Steve Nelson:watch this space, because you can actually make everything
Steve Nelson:different. So it's bespoke. And its won because of its speed
Steve Nelson:because it's really focused on end-use manufacturing. So it's
Steve Nelson:it's been a breakthrough and kind of the joy of a lifetime.
Steve Nelson:And I'm thinking about how in the world that I get involved in
Steve Nelson:that. I guess the commonalities are amazing people that you
Steve Nelson:hustle and try to work hard for that invite you in to be a
Steve Nelson:co-founder. And also when I think back on it, I had to leave
Steve Nelson:my 15 year venture capital job to join a company that had no
Steve Nelson:money. Printer made out of wood. But I'd never thought of it that
Steve Nelson:way. Man. I just thought of it as the opportunity. And then the
Steve Nelson:whole idea of getting back inside a company just felt like
Steve Nelson:a joy. And I had enough pattern recognition in a while this is
Steve Nelson:really different. Almost like we had an amazing screenplay. So I
Steve Nelson:sole sourced it to Steven Spielberg. In this case, Jim
Steve Nelson:Goetz who again, I knew how good Jim was. And he said yes in one
Steve Nelson:afternoon to offer us five times more money than we were seeking.
Steve Nelson:We're done. And we went stealth for 18 months. And Jim is now
Steve Nelson:the lead investor, quarterback and calling all the shots. I'm
Steve Nelson:just a cheerleader, helper, active, you know, with some free
Steve Nelson:time to do a few other things.
Matt Waller:What an amazing story. Congratulations.
Steve Nelson:So watch the space company's going really good. I
Steve Nelson:think the zero to one part was the invention that Alexander
Steve Nelson:Ermoshkin and his son came up with with Joe DeSimone's help.
Steve Nelson:But at some point, scaling these companies is both fun and the
Steve Nelson:next opportunity. And we've been scaling it beautifully. And this
Steve Nelson:is a company that's definitely built to last.
Matt Waller:You are also co-founder of re Inc.
Steve Nelson:Yeah, there's a fun story there too. I guess
Steve Nelson:when I think back on themes, again, I'm a less young guy,
Steve Nelson:much less young guy than you. So I've kind of seen the movie
Steve Nelson:before and what I ended up gravitating towards the big
Steve Nelson:theme. So the whole idea of transforming manufacturing,
Steve Nelson:that's exciting. I'm also a proud dad, two amazing
Steve Nelson:daughters, wonderful wife of 30 plus years and this whole idea
Steve Nelson:of equity, equality, fairness, even diversity inclusion for
Steve Nelson:women just resonated with me. And it turns out having lived in
Steve Nelson:Chapel Hill, where UNC Chapel Hill is, they have this iconic
Steve Nelson:women's football team meaning soccer team. And I knew that I
Steve Nelson:was Mr. Nelson to a bunch of them because I kind of guess
Steve Nelson:drawn to greatness and that program's iconic in terms of how
Steve Nelson:good it is going back to the Mia Hamm days and they're the ones
Steve Nelson:that won the women's World Cup back in 2015. And at the same
Steve Nelson:time are going to sue their boss over being treated unfairly. You
Steve Nelson:don't often aren't often best of the world at what you do. So I
Steve Nelson:was advised you're number one to the US Women's National Team
Steve Nelson:Players Association. We brought in McKinsey to do a study about
Steve Nelson:getting them paid fairly etc. I came down to a friendly match in
Steve Nelson:Brazil. This we were joking about it. I just came from New
Steve Nelson:York with my re friends, my soccer friends Now iconic
Steve Nelson:people, they weren't at the time, we said, you know, yes,
Steve Nelson:you ought to fight for equal pay, you ought to fight for
Steve Nelson:being fair pay, I think fair is a better word. Maybe you ought
Steve Nelson:to get paid more, you ought to be treated equally and paid
Steve Nelson:fairly. But have you thought about starting a new company, we
Steve Nelson:call it newco -- N.E.W.C.O. --, where there isn't a bunch of
Steve Nelson:unfairness, older white men that decide how much you're worth?
Steve Nelson:Let the world decide. So we kind of built this thing launched it
Steve Nelson:in 2019 at the Women's World Cup, the fundraising there has
Steve Nelson:been crazy as well literally raised money, I think, well, the
Steve Nelson:first money was from Kleiner Perkins, which would be a top
Steve Nelson:two firm in history. We raised that literally at a zoom call,
Steve Nelson:and the money was in the bank in two days before the woman played
Steve Nelson:their first match. And it started out in streetwear. And
Steve Nelson:it's really now morphed in this vertical social network for
Steve Nelson:change makers, some biking enthusiasts would know the Apple
Steve Nelson:Strava that kind of tracks everything for the biking
Steve Nelson:enthusiast. This is more for the people that want to change the
Steve Nelson:world and be changemakers and it turns out my partners -- Megan
Steve Nelson:Rapinoe, Kristen Press, Tobin Heath, Meghan Klingenberg --
Steve Nelson:became synonymous with the cultural movement of fairness,
Steve Nelson:equity, equality, fairness, and changing the world in a good
Steve Nelson:way. And even the fight for fair pay. It's been another tiger by
Steve Nelson:the tail, they invited me in because they knew me as Mr.
Steve Nelson:Nelson, they now call me Steve as a co founder. And it's 85%
Steve Nelson:women owned all but probably 90% women run and me, they call me
Steve Nelson:OG, I thought that meant old guy, which is true. And that was
Steve Nelson:actually original gangster. I said, Okay, what does that mean?
Steve Nelson:I said, no, it's actually good. You've been here from the
Steve Nelson:beginning. So I'm OG to my young friends. I'm twice as old and
Steve Nelson:we've had a ball. And we've added now to Kleiner Perkins, we
Steve Nelson:raised money from New Enterprise associates, NEA, who's fantastic
Steve Nelson:firm from CAA, that probably the most important talent agency in
Steve Nelson:history out of LA, this university called Stanford that
Steve Nelson:you probably heard of, and it's kind of gone really good. For
Steve Nelson:me, it's a joy, I would do anything with these folks, I
Steve Nelson:would do a not for profit, build a house. Anything. By the way,
Steve Nelson:Megan Rapinoe is not like one of these iconic people on the
Steve Nelson:planet. And she's my friend four years ago, almost five years
Steve Nelson:ago. So it's been a bit of a wild ride. And for me a joy in
Steve Nelson:the fact that we actually have a company. And by the way back to
Steve Nelson:the whole notion of Yeah, fight to get paid fairly. But if you
Steve Nelson:own something, there's this thing called ownership that
Steve Nelson:nobody decided that the world and how good you're going to be.
Steve Nelson:And we're off to a really good start. And let's just say their
Steve Nelson:time and effort has been really well spent with a lot of upside
Steve Nelson:to research been a joy. Absolutely a joy.
Matt Waller:Well, that's awesome. You have a lot going
Matt Waller:on. You're on many boards, we haven't gone through that. But
Matt Waller:there's one board that I would like to talk a little bit about.
Matt Waller:You are one of the founding board members of the Whole
Matt Waller:Health Institute.
Steve Nelson:Yeah, it's gonna be the Whole Health School of
Steve Nelson:Medicine and Health Sciences, kind of the new med school, but
Steve Nelson:also I was kind of a founding advisor before the whole health
Steve Nelson:institute even started. I had the great joy of meeting Alice.
Steve Nelson:Alice Walton that is, to me is like an entrepreneur. She's an
Steve Nelson:innovator, she's an out of the box thinker. A lot of people
Steve Nelson:would say she's the most like her dad, pretty iconic guy that
Steve Nelson:started this fortune one company, there in town. Alice
Steve Nelson:has become a amazing person in my life, amazing friend and
Steve Nelson:invited me not only was there from the beginning of the Whole
Steve Nelson:Health Institute, a bit of a founding advisor, even into
Steve Nelson:leading the search for Tracy Gaudet, who's done a fantastic
Steve Nelson:job, and the team behind all of that. But now this new med
Steve Nelson:school and I guess her first are tied for first new board member
Steve Nelson:of the Whole Health School of Medicine and Health Sciences.
Steve Nelson:But love Alice and what she wants to do to transform
Steve Nelson:healthcare in America.
Matt Waller:Clearly, you've been involved in some very
Matt Waller:transformational businesses. This seems to be remarkably
Matt Waller:transformational because it could transform healthcare
Matt Waller:business in the United States.
Steve Nelson:Yeah, it's, it's got big dreams. I just love
Steve Nelson:people that are big dreamers, I kind of say it all begins with a
Steve Nelson:dream. And Alice Walton and her whole initiative at Whole Health
Steve Nelson:wants to transform healthcare in America, think of it as also
Steve Nelson:East meets West. So it's not all about fee for service. It's
Steve Nelson:about keeping people healthy. It's about the move to value
Steve Nelson:based care, new payment models, new approaches, new
Steve Nelson:partnerships, you may have seen a big launch of a conversation
Steve Nelson:and for specialties with the Cleveland Clinic, pretty much
Steve Nelson:everybody on the planet that's anybody or even best in the
Steve Nelson:world of what you do wants to partner so it's been a good a
Steve Nelson:joy that you put some amazing people in the same room. And the
Steve Nelson:beautiful thing is it's starting in Northwest Arkansas in the
Steve Nelson:hometown of where this amazing family and you know, my friend
Steve Nelson:Alice, grew up. So it's a joy for me to try to help any way I
Steve Nelson:can. And that case, it's completely not for profit. I
Steve Nelson:don't need or want anything out of it. I just get energy and
Steve Nelson:vitality. I love hanging around people like Alice in the whole
Steve Nelson:health crowd. They've been amazing.
Matt Waller:It is. It's tremendous. What made you decide
Matt Waller:to move to Northwest Arkansas? Was it that?
Steve Nelson:yeah, I guess COVID has a way of doing things
Steve Nelson:for everybody in the world. Right? I mean, we always joke
Steve Nelson:about that. We were 20 year people in North Carolina. Our
Steve Nelson:daughters have 20 Somethings that live in LA in Santa Monica,
Steve Nelson:Brentwood kind of area. And they couldn't really come back and
Steve Nelson:see us so we couldn't really go see them in that window of time
Steve Nelson:and my wife beautifully proudly pronounces hey, I want to buy a
Steve Nelson:sprinter van. When we get a sprinter van and just kind of do
Steve Nelson:our life from the road a little bit, so which is what we did,
Steve Nelson:and we're out visiting them. And again, at this point, I'm
Steve Nelson:hundreds of conversations into life with Alice and the whole
Steve Nelson:health crowd. And she has a stop through town on our trip,
Steve Nelson:literally from LA back to North Carolina, because we were still
Steve Nelson:at the time owning a home and property in North Carolina after
Steve Nelson:20 years of living there. Big empty nester house, it wasn't
Steve Nelson:really required. We stopped, stayed at the 21-C, spent a lot
Steve Nelson:of time with Alice and some of her family members toured the
Steve Nelson:place. Before you know it, somebody called and said, hey,
Steve Nelson:there might be a unit available. And we took a look at it on like
Steve Nelson:10 minutes notice. And at the seven minute mark of being
Steve Nelson:toured around it, my wife says we'll take it. So that's back to
Steve Nelson:the was that planned? Was that in a spreadsheet? No, I guess
Steve Nelson:that's a blank moment of just forks in roads and amazing
Steve Nelson:people. And I really, I'll add to it. So Alice and the Whole
Steve Nelson:Health Institute for both my wife and I, my dear wife, Susan,
Steve Nelson:and I is a huge draw for us. Because we just feel like we
Steve Nelson:could have been involved from the ground up with something
Steve Nelson:great. That's really important. Again, if you think of themes,
Steve Nelson:health and wellness, and healing is really important theme. So is
Steve Nelson:changing manufacturing. So is equity, equality, fairness for
Steve Nelson:women. But I also think Bentonville in Northwest
Steve Nelson:Arkansas could be this next great place to start and grow a
Steve Nelson:business. There's no way. And the reason any reasons, it can't
Steve Nelson:be that next great place. It's very much the way I felt about
Steve Nelson:North Carolina in late 1999, when we moved there when we just
Steve Nelson:picked up and moved. So it's very similar to pick up and
Steve Nelson:move. And there's been amazing folks. And I feel like there's
Steve Nelson:no reason. And by the way that told you, Matt, you're fantastic
Steve Nelson:at what you do, we wouldn't have to invent somebody as good as
Steve Nelson:you that wanted to actually be transformative on a local level,
Steve Nelson:and so many professional ways, and just had joyous times with
Steve Nelson:you already. So the whole idea of being around people, when you
Steve Nelson:wake up every day excited about who's there. It's just something
Steve Nelson:I get excited about. And I love it as a base for next chapters.
Steve Nelson:So that's the way I guess it came to be. And here we are. And
Steve Nelson:it's been fantastic.
Matt Waller:What you say is so true. What makes life joyful is
Matt Waller:the people you're around. I so much agree with that. And there
Matt Waller:are so many wonderful people to be around. So we are fortunate.
Matt Waller:You have been an extremely successful business leader in
Matt Waller:many, many different dimensions. Really a paragon, I think for
Matt Waller:young people who want to go into business, what would you
Matt Waller:recommend to our students, whether they be undergraduates
Matt Waller:or graduate students?
Steve Nelson:I really appreciate the question. And of
Steve Nelson:all the things we've talked about, this is probably my
Steve Nelson:favorite, I get so much energy out of young, talented people.
Steve Nelson:At some point, I'm the less young guy no matter what. So the
Steve Nelson:whole idea of trying to help. And we come across Matt, you and
Steve Nelson:I as wise, but we just have seen the movie before and lived
Steve Nelson:longer and have some life learnings to share. There's a
Steve Nelson:few if you don't mind me mentioning them would be, I'me
Steve Nelson:really big on exploring your interests to find your passions,
Steve Nelson:and then open the aperture wide to find out what you love. And
Steve Nelson:if you could find the people, places, things that or even who
Steve Nelson:inspire you, give you energy, give you vitality. I think that
Steve Nelson:brings inspiration into your life. And it helps you or even
Steve Nelson:create your life calling and I'm really big on what's your life
Steve Nelson:calling What's your reason for being. And for me, it's those
Steve Nelson:things that give you the most energy, the most vitality is
Steve Nelson:usually your passions over time, and you can over time, find a
Steve Nelson:way to work in those fields. And then find the people around that
Steve Nelson:that are kind of best at what they do. And prioritize those
Steve Nelson:folks. You know, first and foremost, I love to go to work
Steve Nelson:on them, with them, for them. I don't need any gain out of it.
Steve Nelson:My gain is the energy and vitality I get out of it and the
Steve Nelson:learnings I get out of it. And as we talked about the joy, and
Steve Nelson:sometimes I feel like I've I'm honored privileged lucky to even
Steve Nelson:be alongside them. Like who am I? I'm just this guy that's had
Steve Nelson:these forks in the road that some of them are worked out
Steve Nelson:pretty well. So this whole idea of combining what you love to do
Steve Nelson:what you with what you do for a living. I think it's fantastic
Steve Nelson:as well, I guess if I was thinking of skills to grow, I
Steve Nelson:think Systems Thinking is good. That's where innovation and
Steve Nelson:opportunity think of those key skills, you know, wide and deep
Steve Nelson:be an expert at something but be broad enough liberal arts, with
Steve Nelson:the sciences. I think being technology aware, and or savvy.
Steve Nelson:I think being able to use these tools is really important. I
Steve Nelson:think being competitive and actually wanting to do well. I
Steve Nelson:don't mean competing against other people but wanting to do
Steve Nelson:well. Maybe that's better said as conscientiousness or grit.
Steve Nelson:And then there's nothing better than being a great communicator,
Steve Nelson:I think both verbal and written. And I love the idea of being of
Steve Nelson:service to others. And so the longer you live, the more and
Steve Nelson:I'm sure you realize that maybe you've realized that your whole
Steve Nelson:life. I really got it in the last decade or so. This whole
Steve Nelson:idea of being service to others is where I get my joy. It's not
Steve Nelson:by doing my thing is is by helping others. So I guess those
Steve Nelson:are the big things that I would say. But I'd actually add to it,
Steve Nelson:you know, be a dreamer, you know, I now hang around because
Steve Nelson:of Sequoia and Alice Walton and my friends at Kleiner, Perkins,
Steve Nelson:John Doerr, these are dreamers that think anything is possible.
Steve Nelson:And I guess I've always been the person personally, no matter
Steve Nelson:what I'm going to give everything my absolute best
Steve Nelson:effort, they're going to get my best me. If we can control
Steve Nelson:having a positive attitude and being upbeat about things I
Steve Nelson:don't know many pessimistic successful folks. I don't hang
Steve Nelson:around with them anyway. And then being a great team player,
Steve Nelson:and then it doesn't feel like work if you're working alongside
Steve Nelson:amazing people. Those are some of the things that I really have
Steve Nelson:enjoyed, I guess over the last many years is picking projects
Steve Nelson:that I'm passionate about finding the absolute best people
Steve Nelson:associated with it. And there's, you know, there's been talk on
Steve Nelson:the engineering side of things of 10x. Engineers, like some
Steve Nelson:engineers are 10 times better, doesn't mean they're better
Steve Nelson:people. And this means just engineers, I just think some
Steve Nelson:people are just extraordinary at what they do. And if you could
Steve Nelson:find a way to be a talent scout, and get your way to those
Steve Nelson:extraordinary people. That's where the magic really happens
Steve Nelson:is, you know, big dreams, big needs, extraordinary people. And
Steve Nelson:it doesn't thence feel like work at all, it feels like a joy. And
Steve Nelson:we've used that word. I think, you know, happiness is fleeting.
Steve Nelson:Joy is not, I think you get joy from serving and helping others.
Steve Nelson:And for me, it never fades to try to be of service and helping
Steve Nelson:other folks. And it never fades to want to be around incredible
Steve Nelson:people. So I guess those would be some of the life lessons. You
Steve Nelson:can't always do that job. One. I'm thinking when I was a young
Steve Nelson:IBM guy that did I know this? No way. But this is like if I was
Steve Nelson:to get beamed up to another planet and had to offer these
Steve Nelson:words based on now many decades of being around extraordinary
Steve Nelson:people and some fun projects. I'd want to share those words,
Matt Waller:Based on my observation of you, you really
Matt Waller:live this service to others. I know you're doing it in many
Matt Waller:ways with the Whole Health Institute. No, but you you're
Matt Waller:doing it with the university too helping us with the
Matt Waller:entrepreneurship efforts. And I really appreciate that we're,
Matt Waller:we're lucky you decided to move here and get engaged.
Steve Nelson:So I'm the lucky one. And again, lucky to have
Steve Nelson:met you, man have so enjoyed our conversations, and I hope
Steve Nelson:there's many, many more opportunity to work side by
Steve Nelson:side. I'm really proud of what you're doing. And your team is
Steve Nelson:doing. And there's a big opportunity for somebody to do
Steve Nelson:something really special somewhere in the nation. And I
Steve Nelson:don't know why northwest Arkansas, and things emanating
Steve Nelson:from your leadership and kind of locking arms with some other
Steve Nelson:incredible people and I'm, I'm bringing my friends through
Steve Nelson:town. So my you know, dear friend, John Doerr of Kleiner
Steve Nelson:Perkins is coming to town for the second time. Jim Goetz is
Steve Nelson:coming to town as you well know, from Sequoia and I don't think
Steve Nelson:he's spoken publicly in six years. He's coming in April. So
Steve Nelson:we're getting the best in the world kind of folks that want to
Steve Nelson:come to town to tell their story to listen, learn and offer
Steve Nelson:thoughts and these are folks that in theory have already won
Steve Nelson:at life. But they want to offer gifts to others and they're
Steve Nelson:picking our town in Northwest Arkansas to have those
Steve Nelson:conversations.
Matt Waller:Steve, thank you so much for taking time today to
Matt Waller:visit with us andit's been a really interesting conversation
Matt Waller:and really appreciate you. Have a wonderful holiday.
Steve Nelson:I appreciate that Matt.