Episode Details

Sam Ellis understood early on that the people who lead the technology space as entrepreneurs are the ones who are obsessed with their craft. Sam Ellis is an early stage software VS who studied Research and Applied Statistics at West Point.

He served as an Army intelligence officer at U.S. Cyber Command, where he was a software developer and an intelligence leader. Sam went on to be a co-founder of Dutchie, where he developed the first version of the industry-leading online cannabis marketplace software. Sam is now a partner at Scout Ventures, leading SaaS pre-seed, seed, and incubation deals.

With a portfolio like that, there’s no one better to learn how to lead (and invest) in technological innovation by loving the game and aiming to win big. 

Things you will learn in this episode:

[00:01 - 08:37] Opening Segment 

• I introduce today’s guest, Sam Ellis
• Sam gives his background 
• How Sam’s strict upbringing instilled discipline 
• Enlisting after 9/11
• The blessing of being pushed in self-development 
• The benefits of fitness on your career 

[08:38 - 23:56] Leading in Tech Innovation by Loving the Game

• Sam talks about why he went into entrepreneurship
• Agency and expression - humans need expression 
• Autonomy to create something beautiful 
• Sam shares his experience in college and his next steps after graduating
• Enjoying the intellectual challenge and rigor 
• Craving for more applied practice of the education
• How coding and programming came into play 
• Coding in his spare time instead of catching up on Netflix
• You need to love the game 
• Schooling can be great, but it’s not the prize
• At some point, you learn how to learn 
• What’s missing in today’s education 
• Emotional regulation and sophistication 
• The start of Sam’s first venture, Dutchie 
• A quick word from our sponsor

[23:57 - 38:37] How to Build a Scalable Business

• The building process of Dutchie 
• How his partners utilized their strengths 
• Operate at a competitive advantage 
• Find some friction - solve the problem 
• Dealing with the pushbacks 
• Plan for success 
• The mindset is we’re here to win
• Defining your win 
• Ex: being the biggest company in your space 
• Focus on an abundance mindset 
• Sam talks about his work with Scout Ventures 
• Pivoting into investing 
• Building up other entrepreneurs
• Looking into the future of technology 
• Tech begets tech 
• More capital is going into leveraged value creation 
• Start looking at emerging regions 
• Look for the visionaries 

[38:38 - 40:05] Closing Segment 

• Who you know or what you know? 
• Who not how 
• Entrepreneurs need to understand people 
• How to connect with Sam
• Links below 
• Final words 

Tweetable Quotes: 

“Being an entrepreneur is all about endurance. It’s all about just showing up every single day; it’s showing up for every single mile, just getting it done… Even when it’s a bad deal” - Sam Ellis

“That’s one of the ways I spot engineers who are passionate and great. It’s those people who care enough to understand the leading edge of technology, care enough about their craft… they love the game.” - Sam Ellis

“We’re not thinking and planning for anything but success… The mindset is we’re here to win!” - Sam Ellis

Resources Mentioned: 

• Scout Ventures Blog