Jeff York听 0:14听
Welcome to Creative distillation where we distill entrepreneurship research into actionable insights. I'm your host, Jeff York, joined as always with my colleague. Hey, Jeff.
Brad Werner听 0:24听
I'm Brad Warner. And it's great to see you in this awesome spot that we picked today.
Jeff York听 0:28听
Last episode, which you're gonna want to go back to, if you haven't heard because it's absolutely riveting, Chuck Easley from from Stanford as well as was really upset. But we did that the dig Center for Entrepreneurship, where Brad and I work at the University of Colorado in Boulder, and also the sponsor of this podcast, I should mention the Deming center and so we were in a conference room and I was mixing cocktails. I was doing a really great job on our producer Joel we're really enjoying the RONIS The Goonies I was mixing up I went home and I took the stuff for making the gurneys home. I made one for my wife, and she said man this Yeah, we are at under the sun. I almost had southern sun. But under the sun is in lovely table Mesa, Colorado where Brad has just moved. So this could be his local watering hole. We don't know yet.
Brad Werner听 1:15听
Oh, yeah. No, this looks fantastic. But they I see the woodfired pizza oven in the background. And yeah, that's a beer in front of us. Great. So
Jeff York听 1:22听
this week's kind of exciting. We are going to be talking beer with Matt Raleigh, the manager here at under the sun. And you know what, Brad? What's exciting is you know, the fall season is here. Yeah, this is the Fall Equinox are all Yeah, very excited. My happiest time of the year. I love the fall. You love the fall. And another reason you love the fall so much is because we're going to be sampling today. I know. You can't tell this just by looking at them. These are 1234566 different variations on pumpkin beer.
Brad Werner听 1:53听
Matt told me it's not true. Six pumpkin beers,
Matt Rowley听 1:56听
six pumpkin beers. You know? I know you're disappointed. We'll have to work on it for next.
Jeff York听 2:04听
I'm really excited. I really. I mean, that is a tradition. pumpkin beer October, right? It's all pumpkin beer all the time.
Unknown Speaker听 2:12听
Yeah, we were thinking of changing the the sun in the mountain Sun logo. Just a big pump.
Jeff York听 2:18听
Nice. Alright, this is dangerous because I don't want anybody to think that like under the sun only surface pump can
Unknown Speaker听 2:23听
be I just want to make Brad happy. No, just to clarify, we have zero pumpkin beers on as of now.
Brad Werner听 2:32听
I totally believe Tim is great. I'm very, very happy.
Jeff York听 2:39听
And this will come into play later. We can Yeah, that'd be perfectly okay. That's good. That's gonna come up later.
Brad Werner听 2:44听
I swear to God, I was gullible there because you would pull something like that.
Jeff York听 2:47听
I would. I tried. You did. Great. Thank you. So So we're here under the sun. The sun is a part of the mountain Sun family. Right, Matt? Absolutely. And I know that I know. Like the first time I ever came to Boulder. It was like, Hey, I'm a beer fan. And people are like, Oh, we got to get a mountain. So we went to mountain sun on the traditional location on Pearl Street. I drank a few beers just to sample a few things. Sure. And then the next day thought I was gonna die. Because I'd never been to altitude before drinking beer but but mountain Sun is like has a rich tradition here in Boulder. And I don't know if you guys know this has a really rich tradition with the lead School Business Entrepreneurship Program. Literally all of our PhD students go there. We all love it. And
Brad Werner听 3:32听
you probably made 20 bucks.
Unknown Speaker听 3:33听
I'm not surprised. I spent about five years serving at Mountain Sun Bri COVID. And I'm sure I recognize more than a couple here.
Brad Werner听 3:41听
I have a question about mountain sun. I believe I've been in there a few times. Is it the place that says hey, if you're able to at the end,
Unknown Speaker听 3:48听
what we do is we have traditionally up until COVID. We never accepted credit cards, okay, your cash or cheque only. So what it really was is we had a system called a Karma envelope. So if you came in, let's say you know your grandma, you're taking out your son and his fraternity brothers to dinner on a Friday night, right? And she whips out the AMEX to pay for everybody. Right? And she's a little shook. What do you tell her? Unfortunately, man, we we actually do not take credit cards. Well, the way we would resolve that situation we'd say worry nots miss, we have something called a Karma envelope. We're gonna send you home. We're gonna take none of your information. Complete honor system, you're gonna send us cash or check back in the mail. Have a great evening. We hope you enjoy your experience.
Brad Werner听 4:35听
Yeah, yeah. So I'm from Chicago. And when I saw that I just about fell over. I'm thinking how does this business model work?
Unknown Speaker听 4:41听
I'm from Atlanta, that wouldn't work, right? Yeah, absolutely not. Yeah,
Brad Werner听 4:45听
that's amazing that we ever stepped. Certainly right. But rarely, right. Rarely
Unknown Speaker听 4:50听
and I'll tell you that when those envelopes came back, there was a nice healthy tip and
Brad Werner听 4:54听
I think it's great at Ball health. I remember this from five years ago.
Unknown Speaker听 4:57听
Yeah. And not only would there be a nice tip, but oftentimes You'd have a nice handwritten card. Oh, and you're just outlining, you know how welcome they felt, and how warm that made them feel that we had a system like that, what
Brad Werner听 5:11听
a way to connect with your customers.
Jeff York听 5:11听
I think that's incredible. And then the other thing I've always noticed, like, other than, you know, being a Grateful Dead, and so Joel here on Moscoso, fishes last tour for a while. So fish just played a phenomenal tour people. Never mind. So the theme, that sort of feeling of people that would like those bands would be perfectly at home, and also the service. That's what blew my mind, like the level of happiness that people have. I mean, I worked in the restaurant industry for a long time. I've never seen people so happy to be at work, nor so willing to like just help, like, you can be waited on by like eight different people during a visit to mountain Sun restaurant or you're under the sun. And tell us a little bit why. Why is it like that?
Unknown Speaker听 5:54听
Yeah, so we call it a team system. And it's the fundamental principle on which our whole company is built off of right? The idea is that everybody on the team is responsible for everything, nobody's above anyone else in any way. The payment is same across the board, all kitchen staff and all front of house staff make the same hourly wage, and we split the tips evenly between all front of house and back of house staff. So everybody is expected to pull the exact same weight. Everyone scrubs toilets, everyone does dishes, everyone bartender that includes the cooks. And sometimes we'll hop in the kitchen and help out too. That's awesome. And that principle, it means that we respect each other, that we have each other's backs, that when somebody gets, you know, in the weeds, if they get double set, triple set, I'm going to be right there, and it's a team, and they're going to be back to help me just the same scenario.
Brad Werner听 6:48听
Yep. By the way, since I've moved here. This is about our weekend. Burger and Beer hang out. Every Saturday or Sunday. We're upstairs sitting outside on the tables. It's been awesome.
Jeff York听 6:58听
Yeah, yeah, no, it's a girl. And that's why we've had like, five people ask us if we sit here. Yeah, right. It's just it's awesome. So and on top of all that, if you have not been to mountain Sun under the sun or southern sun, but there's other establishments outside of Boulder, right,
Unknown Speaker听 7:15听
correct. There's five pubs. Okay, so began in 1993 with the mountain Sun pub and brewery on Pearl Street, right. Then in I believe, 2001. We opened up our pub upstairs. It's called the southern Sun pub in South Boulder. It's a much larger version with a really beautiful patio with an excellent view of the flat is cool. And I want to say around 2008 We opened the Vine Street pub and brewery in Vine Street and uptown neighborhood of Denver. Oh, really? There have not been Vine Street is our primary brewing location. Okay. The secondary brewing location is upstairs. Its southern sun. Did you grow out of the old places? mountain scene is tiny, I think.
Brad Werner听 7:56听
Yeah. So you were you were brewing on Pearl Street.
Unknown Speaker听 7:58听
We were originally brewing on Pearl Street, which if I were to take you back there would be shocking. Okay. It's
Jeff York听 8:03听
insane. Like because I mean, you know, I've never been professional Burr. But that was like a homebrew or a beer judge. I would the first time I walked into mountain sun, and I saw there was like, I don't know, 18 beers on tap something like that. And I walked in the back of the bathroom and saw the brew house, like how the hell are these guys? And nobody was brewing at the time. So I'm like, how are they doing
Unknown Speaker听 8:21听
that? It's wild. And that's not even to mention the logistical you know, options that come with having to get things on the prowl. Yeah. And those alleyways. All that so yeah, we opened southern sun in 2001. And that became our brewery. Now it's our second largest brewery, find st is the largest one. Okay. And that's where we're currently doing all of our brewing. And then we opened this place. And I want to say like, 2011 2012 Yes, right after I moved. And for those listening, the podcast, this place is immediately underneath Southern, this is really cool. Building so southern suns on top onto the sun down.
Jeff York听 9:01听
I don't know if this is the driver behind. But basically, a lot of times you can't get into southern sun. Like that's just pack Yeah. And sometimes you can't get in either of them. But this at least you know, you come down here is another option. It's also I've always felt that the atmosphere here was a little more tranquil. Like this is where I come for, like business meetings and Sorensen's where I go to like, hang out with like people to celebrate something. The way
Unknown Speaker听 9:22听
we sort of like to look at it is to unique rooms in the same grade home. Yep, yep. So yeah, we there is a intentionally different vibe down here. Yeah.
Brad Werner听 9:33听
So back to your brewery, though. So the brewery in Denver? Does it just supply the restaurants or are you available anywhere else?
Unknown Speaker听 9:39听
Correct. We do no distribution route. There has been some limited distribution in the past. I remember I was at Boulder theatre show one time, and I was looking all the all the decorations in the wall and I found an article for our very famous Java Porter bottles. But that was I think 9495 was Article, we recently did a charitable project with upslope and I believe Avery where we didn't make six pack that was so supportive. South Pole. Yeah, right.
Brad Werner听 10:13 听
I mean, and for our listeners I mean we are right next door craps grass. Yeah. And
Unknown Speaker听 10:17听
we are in the same shopping center.
Jeff York听 10:19听
Yeah. Well, let's um, let's take some these incredible beers.
Brad Werner听 10:23听
Thank god they're not pumped. I can't believe I fell for that.
Jeff York听 10:26听
Here's a twist. They actually are. Oh,
Brad Werner听 10:30听
I have no idea. I mean, I don't I don't even know. I had I had a nice really it's
Jeff York听 10:35听
just like Game of Thrones. But on a podcast, people are just like twist within twist. All sorts of stuff. So where we start?
Unknown Speaker听 10:42听
We want to start I say drink it like a book. Okay, so left to right, top to bottom. Got it? So we're starting with what we call the heady broad Tober fest. Cheers, guys.
Jeff York听 10:52听
Cheers. Happy October. Happy fall. Happy.
Unknown Speaker听 10:55听
Saturday. Okay.
Jeff York听 10:58听
Oh, man. That's good. Awesome. Awesome aroma.
Unknown Speaker听 11:02听
Certainly a grassy aroma lightly toasted. Missing. Absolutely. European hops. Right. For sure. Kind of important to that more grassy aroma.
Jeff York听 11:13听
Yeah, get the like Holly Tom maybe or something like that. Like really peppery, traditional Oktoberfest guy, huh? Yeah, I tried to make Oktoberfest for years with like ale yeast. And always sucks. If you were like, No, you can make an Oktoberfest or they'll use it and I taste their beer and it would suck too. And then I finally got like a chest reason to start logging. And then yeah,
Brad Werner听 11:34听
I have to tell you, Oktoberfest beers are great. I love that kind of seasonal. May
Jeff York听 11:39听
we'll do October 1 and still pumpkin beer. We can do that. Yeah, that'd be good.
Unknown Speaker听 11:42听
There's something to worry about. October fights in the fall. It's just Yeah.
Brad Werner听 11:46听
For me fall is my favorite season. Just having it come around. food's good. Yeah, my German so I love all the brands and all the other stuff.
Jeff York听 11:53听
That was awesome. Yeah. What's next?
Unknown Speaker听 11:56听
Next up is the number one Belgian Chappelle.
Brad Werner听 11:59听
Oh, okay. So this isn't a build so we're gonna go sour here, right?
Unknown Speaker听 12:02听
No, no, no more floral. Oh, so
Brad Werner听 12:04听
I was assumed Belgians were
Jeff York听 12:06听
sour beers that you can do better than
Brad Werner听 12:10听
what you educate me over a couple of bourbons? Am I supposed to remember that?
Jeff York听 12:13听
Yeah, you're supposed to remember
Unknown Speaker听 12:14听
the most noteworthy aspect of a Belgian like this is gonna be Belgian yeast. Okay, and it's gonna give you a really floral aroma.
Jeff York听 12:22听
Yeah. And you're also gonna shake it a little bit and get smoked. You're gonna get like a hot ethyl alcohol a little bit. And that's okay. Like in most beer, that would be like, problematic. But in Belgium beers. That's okay. Because it brewed to a really high street. I mean, what's the strength
Unknown Speaker听 12:35听
on this mat? Like, leave? It's 9.1. Is that the strongest for you?
Jeff York听 12:39听
Oh, no.
Brad Werner听 12:42听
Okay, no, I have no idea. This
Unknown Speaker听 12:43听
one on the line? Yeah, yeah, sure.
Jeff York听 12:44听
Yeah. So this is why you see British people falling down whenever
Brad Werner听 12:50听
I saw I would take number one over number two.
Jeff York听 12:52听
Yeah, I would take number two over number one every day of the week.
Brad Werner听 12:56听
But about you, Matt, would you have
Unknown Speaker听 12:57听
ever started this number two, which happens to be called number one. Tip number one. The first was my favorite beer. And as times gone on, I found myself drawn to the drier beer. Yeah. So I would go with that Oktoberfest personally.
Jeff York听 13:14听
It's really it's got like a really sweet aftertaste to typical your Belgian strong ales. Certainly very nice. I would drink a lot
Brad Werner听 13:22听
of that. Do competitions with these bears?
Unknown Speaker听 13:24听
Absolutely. We've won multiple gold medals, the JBf and plenty of other silver bronzes. We compete pretty regularly every single year in JBf. And we've had a great deal of success.
Brad Werner听 13:40听
Yeah, so my son was a brewer and I actually came from Chicago to the Great American Beer Festival before I moved here. Oh, it is one of the most amazing things that we're saying.
Jeff York听 13:48听
Oh my God, why are we not doing a podcast at the Great American Beer Festival? Dinner? No, we got to. Okay, we got so many great ideas now.
Unknown Speaker听 13:56听
Wondering I haven't heard anything about it. So I always in October, October. Yeah.
Jeff York听 14:02听
So is the director of the Deming center is listening. Eric, we're gonna be going to Munich, and then we're gonna need to purchase like a VIP kind of situation. Oh, great. American beer definitely. Tried to be easy and cheap to acquire. I'm sure. Yeah. So there you go. Especially.
Unknown Speaker听 14:19听
One thing we actually do to help educate our staff is every single year we make sure every staff member who's available gets at least one free night. That's That's crazy. Brewers VIP access to JB Ellie. Yeah, every staff member every single staff member that's between all five pubs.
Jeff York听 14:37听
Most people will understand what a big deal that is. You can't get into the great American restaurant much less Oh, no. I
Brad Werner听 14:42听
mean, I remember the line was around. It's a huge building, whatever that it was around the building.
Jeff York听 14:46听
Yeah, it's, you know,
Brad Werner听 14:48听
I mean, it's
Unknown Speaker听 14:48听
a half a mile long. It's almost as hard as getting a fish ticket.
Jeff York听 14:51听
Yeah, actually, I had three tickets. Anyway. So and I've also got a Halloween a lockdown, but I'm not sure we'll see.
Brad Werner听 15:00听
Let's go with beer number three. Is that called number three is it?
Unknown Speaker听 15:03听
So this is the Colorado condo, huh? It's an American ESB. ESB, so yes, you better correct. But this is a very non traditional ESB.
Jeff York听 15:14听
Yeah. So like, the traditional ESB is you go get one of these in the UK, it's gonna have a real strong acid all like butter, like flavor to it as part of the profile of the beer. This doesn't have as much cleaner, hence make it American. Lisa, think of that. But Matt, you tell me if I'm off
Unknown Speaker听 15:29听
correctly. I mean, when we call a beer of American version of anything, you're dealing with American Hops, which are much different than European hops and that they impart more. piney resinous citrusy was a different grouping of flavors that are imparted by American hops. And
Brad Werner听 15:46听
so as a beer judge, Jeff, how do you rate number three, the ESB
Jeff York听 15:50听
dude, I haven't judged a beer competition in like 10 years. But it's still you got the fantastic I mean, you know, if, as an American ESB, I don't? I don't know if that's a style or not, I don't think it'd be like an embryo is what they put in.
Unknown Speaker听 16:04听
To me. It's a hop Tambor, yeah, exactly. In a lot of ways. I mean,
Jeff York听 16:08听
all their beers are fantastic. I mean, yeah. I mean, they'd all be like super high scoring.
Unknown Speaker听 16:12听
I certainly don't know, but there may not be a American ESB style. Great American here. Yeah, there may
Jeff York听 16:17听
be last time I was 10 years ago.
Brad Werner听 16:20听
So does your staff ever have input into the style of beer that the Brewers make in Denver?
Unknown Speaker听 16:26听
Our general staff, I wouldn't say has much to play in that we do include our staff in all areas of decision making in general, but with the beer, we have such a great brew staff that we let them handle that. Yeah.
Jeff York听 16:40听
Is it fair to say it's color a con what you guys sell the most of maybe,
Unknown Speaker听 16:44听
you know, depends on the pub. Yeah. The majority of the pub sell, FYI, Pa Ye is actually next. Yeah, that's the highest. Our raspberry wheat or Blackberry wheat is our highest selling brands down in Denver. Really? Yeah. Huh.
Brad Werner听 16:59听
What do you make of that?
Unknown Speaker听 17:01听
City Folk?
Jeff York听 17:02听
Yeah, city, but Flatlander down there in Denver?
Brad Werner听 17:08听
Did you just call Denver a cow town?
Jeff York听 17:10听
Yeah. That you call Denver? I can't tell you. The guy from Chicago has always gotten Denver account. This is good. Well, this is just like, you know, to me, like the taste of Boulder brewery. Just like a pity IPA. Right. Great.
Brad Werner听 17:29听
I'm still partial to number one, the Oktoberfest. I mean, that really resonated with me.
Unknown Speaker听 17:33听
Like, well, this is our highest seller. So this is on tap all year. And most of these actually are or at least
Jeff York听 17:40听
a few of them. The last one is not correct. This
Unknown Speaker听 17:44听
FY pa stands for I'm not gonna curse but F Yes. Yes. Yeah. IPA. Love it. And yeah, this
Brad Werner听 17:51听
actually remember that?
Jeff York听 17:51听
Yeah. You guys. I mean, I don't know you do one or not. But there's not a hazy on the table. You guys.
Unknown Speaker听 17:58听
Not a hazy on the table. There is a hazy on the wall, though. Cool. Yeah, that was our first hazy we've ever done.
Jeff York听 18:03听
Yeah, no, I was just wondering if like you were one of the you were like the only brewery in America that managed to not make.
Unknown Speaker听 18:10听
We lasted until about a month ago. Pretty good.
Jeff York听 18:13听
That's as good as anyone's done. Because, I mean, I know a lot of breweries are kind of like over the whole hazy like thing, but it's just so people just want a hazy IPA as I can make it easy. They're
Unknown Speaker听 18:23听
certainly asked for Yeah, stylistically we do tend to stick a little bit more to the right. thing. And
Jeff York听 18:31听
fish fans. That was delicious. Alright, so you're talking about favorites? Bread? Yep. Monster number one. The actual number one. Oh, number one? Yes. Only because I like Belgian so much. But I like them all. It seems like people what's your favorite beer might be called beer. Why would you
Brad Werner听 18:47听
have a favorite? It is amazing though. The different styles, different flavors that you can get out of beer. Oh, it really is incredible. It's the most
Jeff York听 18:53 听
incredibly flexible beverage like class have anything.
Unknown Speaker听 18:55听
It's interesting, educating a staff on beer. And you're teaching them about all these notes that you're getting out of beer, whether that's grass or pine or Yep, or fruit or whatever. And once they understand that this is just simply coming from yeast and hops and malts. None of those insane is in most cases, none of those things
Jeff York听 19:16听
are actually the beer. pumpkin beer where you add the pumpkin because of that great, great pumpkin flavor.
Brad Werner听 19:24听
Yeah, go to your local Starbucks.
Unknown Speaker听 19:27听
The Baltic Porter.
Jeff York听 19:28听
Nice. Now that's not a style.
Unknown Speaker听 19:31听
This is a so this is a darker Porter. Well, that's good, but it's brewed with a lager ease, so cleans it up really nice.
Jeff York听 19:39听
So good. This is good. Yeah, I like this to get down to under the sun and get yourself a black Araya that is so good.
Brad Werner听 19:46听
What about what about people coming in just for tastings is that a large majority of your clientele or
Unknown Speaker听 19:51听
that was a much larger majority of our clientele pre COVID Really now, we do a lot of tourism business, particularly Pro st location, which is not open yet, we just haven't been able to staff to the levels that we need to. And it's a very small tight restaurant. Not ideal for any sort of capacity restrictions. That restaurant in particular was doing a lot, a lot of tastings. Gotcha. And upstairs and downstairs, these two restaurants here we were doing more when we were having a little more tourism. Yeah. So the locals know what they want JBf week we're doing a lot of tasters.
Jeff York听 20:26听
And then the most famous month of the year, stout month. Yes. I
Unknown Speaker听 20:35听
had to throw these last two in Yeah, in honor of step one. What is
Jeff York听 20:40听
February if you don't know these things,
Unknown Speaker听 20:43听
shortly, February is the slowest month for any restaurant. So to combat that the owners management long ago in the 90s decided, why don't we do something fun during February. So we made it stout month, we brew I want to say 30 Plus stout, it's just for the month. We have a ton of guest outs from breweries all across the country. So good, and it's by far our busiest month, the one from one of the busiest month. We're packed all day, every day. It's a total cult following. Yeah. We had a big thing. People cut their hair in the bullets. We do a chop competition where the staff and many customers would actually grow the biggest chops they can. At the end of the year, we'd have a big concert at the boulder theatre for charity and we'd have a competition for who could come up with the best character like chop Threepio for example, and one becomes mountainous on royalty.
Jeff York听 21:42听
How can you not love?
Brad Werner听 21:43听
How creative is that? I
Jeff York听 21:44听
mean, that is going to come here since
Brad Werner听 21:46听
we started but think about the creative thinking about taking your slowest month and making it into your busiest. Yeah, Jess was
Jeff York听 21:53听
making 30 stouts is what? Yeah, that's an undertaker. Oh, Scout stout. It's my favorites. Like based on the Thin Mint Girl Scout cookie. I just love that beer so much. I can't have this for myself month. I think this was on carova
Unknown Speaker听 22:07听
This is a longtime staple here. Milk stout.
Jeff York听 22:11听
Ooh, that's awesome. Well, almost like a Scotch like finish on the back end. Yeah,
Brad Werner听 22:16听
these are different man. Yeah, man.
Jeff York听 22:19听
Yeah, nice sweetness. Back for stout month and do a podcast. I
Brad Werner听 22:22听
think we should I love that.
Unknown Speaker听 22:24听
We just pushed it to April this year. Oh, you did? Okay. Yeah. Okay, this coming year, you know, it's taking a little while to ramp up our brewing operations. That and stout month is an all year endeavor. So you start brewing for next month, right after February. So we weren't quite prepared to this year it will be in April, will return to tradition. There's something
Jeff York听 22:43听
about being down on Pearl Street on like a really cold snowy night, like Tuesday night or like a really slow night while still prescribes a salad and going into mountain sun and like just trying as many styles as you can. I don't know. That's just sort of a tradition for me. It's glad to hear that Justice February for me.
Unknown Speaker听 23:03听
I agree. It's a it's a nice, warm bill.
Jeff York听 23:06听
A little bit. Brad's not sympathetic.
Unknown Speaker听 23:08听
If you cry, I'm gonna cry.
Jeff York听 23:10听
Oh, it's like it's a special thing, man. This is fantastic. Man. It is for you so much for joining us, like, so how is COVID Like if you guys be able to pivot out of it and be able to get things going again, because we're always worried about our local businesses and trying to support them as much as we can.
Unknown Speaker听 23:25听
Honestly, it has been a greater challenge than we thought, hmm. We have a lot of momentum. And we're doing a great job in rebuilding our staffs. We're really grateful for the fact that we were lucky enough to own a couple of buildings that we have. I mean, we were around for 27 years before the pandemic and we had some serious institutional memory. We had a really strongly imbued culture throughout. And we were really lucky that a lot, a lot of us stuck around. And a lot of great employees are still here to teach and carry that forward. Yeah. But it has been a greater challenge to get staff. Yeah. than we thought. And training this many people at once is very difficult for our great I
Brad Werner听 24:09听
was here last Saturday, there was a trainee, actually, with one of the waitresses, yeah,
Unknown Speaker听 24:13听
we're really lucky that we have such a great relationship with our community and we want to do everything to support them. They're doing everything to support us. So it's a slower process. And we thought, like I said, two of our restaurants are still not open the mountain sun and Vine Street in Denver. Okay, so lunch is now open either. We're brewing there, but we're not open for service.
Jeff York听 24:34听
Yeah, but still good do so that squares at least that square footage getting utilized when
Unknown Speaker听 24:38听
you think of a restaurant, like Vine Street that's quite large. Yeah, you're probably talking I would say at least 8090 employees to get that really going up. And we just have a little bit of a problem hiring five or six employees down here. So so it's gonna be it's gonna take a while.
Brad Werner听 24:56听
You know what though? The community supports you, right? You we all stick together through this All the things that we've seen in the last year, we're all in it together. And I think that every every time that I drive by here community still supporting you though,
Unknown Speaker听 25:07听
we certainly feel that that's very palpable. They're here. We love them. We love seeing them. I remember the first few weeks of reopening the southern Sun upstairs was joyous. Yeah, there was like, everyone was really happy to see each other be out back in the world. Sure, drinkin FYI. It felt really
Jeff York听 25:29听
it's just been awesome. Thank you so much. Thank you for these awesome beers. If you can hear this you can get here come to under the sun. More Southern Star southern staff Blanca
Unknown Speaker听 25:40听
peak in Longmont? Yeah, yeah. Oh, yeah, I forgot. That's the other one that's open, great.
Jeff York听 25:44听
Get to one of those establishments, and you will taste some amazing beers, and you will meet some of the nicest people working anywhere in Colorado. Make sure you go out and support them. Thanks for having us. It's been great. Thanks.
Unknown Speaker听 25:53听
Thank you very much.
Jeff York听 25:55听
That's our pleasure. Thank you. Alright, so that concludes our tasting of beers here at under the sun. What do you think, Brad?
Brad Werner听 26:04听
Well, first of all, I, the community spirit that you feel when you walk in here, and just the personality of the staff, the mats and the friendliness? Yeah, that's incredible.
Jeff York听 26:14听
I mean, yeah, really, it really is like, amazing. There's better service here than literally any brewery I've ever been anywhere, or any restaurant for that matter. I mean, it's a casual place, but you feel like you're part of a family when you come here. I'm just excited to be
Brad Werner听 26:28听
here. And you know that I'm not a sophisticated beer drinker. You are coming in here and doing a sampling afternoon and that type of thing. That's a blast.
Jeff York听 26:36听
Yeah, absolutely, man. Good nerd try some beers. So I highly recommend black Araya the Baltic Porter. Holy cow. That's good.
Brad Werner听 26:43听
Yeah. And I personally am all over the Oktoberfest. That's just you like what you like right now?
Jeff York听 26:49听
And that's fine. Yeah. Anyway, to the one time I really didn't want Brad to read the paper at all. I really didn't. Because I have a special a special is this. Join us today for a special episode of Korean distillation. Those of you there to that in the 80s they had special editions, it was always about some kid using drugs on family. So nobody's gonna understand what the hell I'm talking about. I guess we should talk about the paper. So Brad actually did read the paper today. Enough for me the day I didn't want him to because I have a special thing plan. So Brad, why don't you introduce the paper introduce that you'll have the title that I do not have a title to the title, your thoughts? Today we are focusing this is a little bit interesting. So Brad, there's these things that we do that we that we we academics with because you know, it's a special episode of
Brad Werner听 27:38听
creativeness. I thought maybe fish fan.
Jeff York听 27:42听
There is an academic conference about fish, though, we should get to
Brad Werner听 27:46听
know your on your own on that one.
Jeff York听 27:47听
Oh my god. So there's a thing that academics do when they want to get together and explore a topic in depth called a special issue. So you have all these journals as you've become aware of that's very expensive, 4950 to 50 plus tax and shipping handling journals, they're out there and will happen is a group of people get together and say, Hey, let's do a special issue. So when you put together a special issue, you write an introduction to it. And you review the papers that are in your specialty. So these guys that wrote this paper we're talking about today are the editors of the specialist, okay. Usually it's people that have published a great many papers and have some standing in the field. And they get together and they say, we're gonna put this out, we're gonna add it. They're often editors at journals. But it's a special issue of strategic entrepreneurship journal called entrepreneurship at the crossroads meta analysis is a foundation a path forward. And so the article we're gonna be talking about, is he talking about a bunch of different papers as an introduction to special issue, but the Introduction The editors are James G comes to Russell crook, David J. Cochin. And Mike Wright. And so I'm gonna try to make sure I mentioned all the papers in this special issue, but may not as you can tell, so I'll do my best. But I've taken notes, Jeff, okay, I saw Brad write something down. That was exciting. So So go check it out. It actually is a really cool, special issue. So meta analysis. Right now, I've introduced the paper. What were your notes about the introduction of the paper, Brad, because this was pretty entertaining.
Brad Werner听 29:12听
So actually, Jeff, I read the introduction, which is two or three paragraphs, I have two items that I selected out of there, number one that I took out of that paragraph. This is quote, by the way, difficult for entrepreneurs to leverage academic findings. Yes.
Jeff York听 29:25听
So you agree with that, right?
Brad Werner听 29:27听
How do you not agree with that? Well, I
Jeff York听 29:29听
mean, many people, yes. I mean, here's the thing, like, I thought you would like this article, because these guys are saying what you're always saying is like, Yeah, but da. But most people don't. But you gotta understand, Brad, a lot of researchers don't believe that. They think like, oh, this is just fine. The way we're going along this right. And
Brad Werner听 29:45听
then if we can help them focus, yeah, so yeah, I have 100% agree with this, that it's difficult for entrepreneurs to leverage academic findings. We haven't found that many academic findings that actually apply to entrepreneurs, but that's a whole different podcast, but
Jeff York听 29:58听
no, no Because today's podcast is a special episode. Alright, so we got some feedback from the director of the Dimmick Sarah that we should have actionable insights every what's the cadence every 20 minutes,
Brad Werner听 30:10听
three takeaways, three takeaway. And then one major action, action once I do
Jeff York听 30:14听
I got not one braid I got through my second Oh, no, but then we were just gonna skip that.
Brad Werner听 30:19听
But go ahead. No second bullet points, right. much about works in traditional organizations is likely to work quite differently in entrepreneurial environments. Yes, da, da. Yeah. Right.
Jeff York听 30:31听
But again, Brad, these gentlemen that wrote this paper and put together a special issue who you're not, you know, I know you're making fun, but but really, I mean, they these are really good scholars. These are folks who have control. Yeah, of course. And that's not taken for granted. In the field of strategy.
Brad Werner听 30:48听
It blows me away. And that crazy.
Jeff York听 30:52听
Actually, folks out there and doubting, maybe that would argue, yeah, entrepreneurship is just another, why would we need that we have strategy. We have organizational behavior. Why is entrepreneurship appealed?
Brad Werner听 31:03听
I think we scare him. I actually do.
Jeff York听 31:06听
Well, that's actually that, but that is a topic for a different pocket. Yeah. But okay. So what I want to do today, something totally different. Okay, get ready, we're going to do a quiz. So rather than going through the insights in this paper, and they're all in there, okay, what happens is, there are five papers or meta analyses in this special issue. A meta analysis simply means people go out and they get all the papers that were ever written about a topic. They put them together to do quantitative statistical analysis to tease out insights from them that are generalizable. And I mean, yeah, this is
Brad Werner听 31:37听
mansplaining. Once a meta analysis,
Jeff York听 31:40听
why do we care about meta knows bottom line
Brad Werner听 31:42听
is you take a very, very broad range of data, and how does it apply to specific cases?
Jeff York听 31:47听
Right? But why is it better than like a single study? Oh, come on, because
Brad Werner听 31:51听
it's not significant, right? You can have you can have so many variables with individual significant studies that you need a group of studies to actually give you some sort of direction perfect. And
Jeff York听 32:00听
they took a little bit of a specific lens towards meta analysis in this special case, where they compared entrepreneurs and entrepreneurial firms, to managers, employees and non entrepreneurial organizations, existing organization. So let me get my buzzer right here. Okay, so here we go. How much time do I love that? Yeah. As much time as you as you, like, the submarine is going down. So So Brad, yes, sir. Tell me this, which is a bigger driver of success for employees and managers.
Brad Werner听 32:28听
Okay, so wait a second. We're talking plays a manager? Manage firms. Yeah, of
Jeff York听 32:31听
large firms are no, no. But every hire you want the general mental ability or emotional intelligence, I would say
Brad Werner听 32:38听
number one, general mental ability
Jeff York听 32:43听
actually access Correct.
Brad Werner听 32:49听
Anyway, okay, first of all, let me just say how many managers have you met in large organizations with any emotional intelligence? Ah,
Jeff York听 32:58听
not not many. Right. And usually they do stand out because that was a gimme question. Okay. Okay. So, so, okay, but more importantly, how about for entrepreneurs?
Brad Werner听 33:07听
Emotional intelligence is the key.
Jeff York听 33:11听
Most my clapping Yeah, that's correct. actionable insight, actionable insight. It is more important for entrepreneurs to understand how to work with people and understand and have empathy for them than it is for them to have general intelligence.
Brad Werner听 33:27听
I totally agree. I mean, and I think that that's common sense. I hope it's common sense.
Jeff York听 33:31听
Common Sense, Brad. That's like, that's something that you know, the people look at Steve Jobs and Elon Musk is Oh, that guy's a freakin genius. I think Elon Musk has any emotion whatsoever. I
Brad Werner听 33:40听
do like it that he smokes weed occasionally with Sure. TV, right? Yeah. All seriousness though, I actually pushed my students to understand that about themselves to lead with empathy, and understanding. And if you and if you live your life like that people will stick with you for forever.
Jeff York听 33:56听
That's true. It's actually probably good advice for managers. But here's what's interesting. The meta analysis shows that general mental ability is actually more important for success for managers employees in a large organization. Yeah. So this is a really, I mean, you know, I know we kid around Eliza doesn't usually what you get, or I think most of this stuff is useful for entrepreneurs and others, but but I think this is actually pretty useful because our students don't necessarily come into
Brad Werner听 34:22听
Yeah, so let's just talk about a large organizations. Is that a cultural issue?
Jeff York听 34:25听
I don't know. They don't get into that. But I wonder if it's more that like, because there's an existing structure and path dependency all around you and really to figure out how to succeed in a large organization. It's basically like, in my humble opinion, learning to play survivor, which actually requires a lack of emotional intelligence really gotta be ruthless. Yeah, exactly. Whereas I feel like for entrepreneurs, if they can't relate to people, no matter how brilliant they are, and we see this all the time in like, aerospace are
Brad Werner听 34:55听
brilliant in their their lane. Yeah, we have we have brilliant PhDs
Jeff York听 34:57听
in chemistry and robotics. and everything else at University of Colorado, and we bring them in our classes and we really need to put them together with like an MBA. Not that all MBAs have. But many have good a diverse team. Right, Jeff? Diversity. Right. So I think this is actually I mean, would you agree that is an actionable insight? 100%.
Brad Werner听 35:15听
Okay. Yeah, we got ya pulled one out of me. Yeah. Thank you. I'll give myself a hand.
Jeff York听 35:21听
Yes. Okay. Um, the next question, how does stress affect employees and managers? Is it negative impact on them or positive impact?
Brad Werner听 35:30听
Well, first of all, we're still talking about a large organization employs managers in large organizations under stress is negatively effect some of course, yeah,
Jeff York听 35:37听
absolutely. I don't have the clapping thing. Well done. Well done, Brett. I can't. Competent I am, I can't make my phone clap. I can only make it but
Brad Werner听 35:49听
I do like the Hunt for Red October buzzer
Jeff York听 35:52听
come take a class from me and a man who cannot make his iPhone clap. Alright, so now what is the impact of stress on entrepreneurs? Super negative.
Brad Werner听 36:02听
So I would say actually, for me, it was a motivating factor. But I can't speak for all entrepreneurs. But I'm gonna say stress actually is a it's a part of being an entrepreneur. So I would say they embrace it.
Jeff York听 36:15听
You're right, mostly. So it's actually positive to neutral for entrepreneurs. So you're right, of course. But this is interesting, because a man analysis teases out some more specific effects, heavy demands, and long hours don't hurt entrepreneurs. It doesn't hurt their performance, as you would expect, right? They're putting more into it. And they're the only person there. But it also doesn't hurt their well being. However, role ambiguity does hurt them. So we've got two kinds of stress gone. One is just from working hard. The other is for lack of ambiguity about what your role is. Yeah. But interesting, the role ambiguity harms their well being but doesn't actually harm their performance, both kinds of stress harm employees, actually, I
Brad Werner听 36:56听
think that if you embrace uncertainty, I think you'll do much better, right? If you know what's coming, right, versus it creeping up on you and say, I'm not sure where I fit or what I want to do. I think that there are methods to get around that to help you actually make money. I
Jeff York听 37:09听
think so too. I think what's happening here is related to a study, I'd love to get Aaron Powell on here. At some point. She's an amazing scholar, that does studies of entrepreneurial teams, I forum will get her on here, you'll really like her. Okay, great. But she did this study where she showed that people really get stressed out when there aren't clear delineations of roles as a company grows.
Brad Werner听 37:31听
I think you could train that into people, though. Yeah, early on,
Jeff York听 37:34听
okay with it. But as the company starts to grow, and I wonder if that's driving the effect here, it's like you and I started company, at first, hey, it's just Brad and just company, we're doing everything. But eventually we're going to need to carve up tasks and ambiguity in the roles is going to be discussed. I think that's why a lot of
Brad Werner听 37:48听
founders leave their company. I've actually lived that, Jeff, cool.
Jeff York听 37:51听
I figured you had Yeah. Alright. So you, I'll give you that one. You are two for two. Brad is just as I expected here. Question number three, do entrepreneurs that receive corporate venture capital do better or worse, in terms of their one performance and exit? And to technological innovation? So if they received corporate venture capital forever, they do better in terms
Brad Werner听 38:12听
of performance and exit performance and exit? Yes. And what was the second one? Technological innovation? I am not certain about that, actually. Okay. Fair
Jeff York听 38:21听
enough. I won't budge you for that. You're right. Here's what's interesting. If you look at this, they're like mixed results on the effects of corporate venture capital. And what the folks that do this meta analysis do is they say, it's actually because you're looking at multiple dependent variables, right. And so saying what's better or worse, it depends on what your dependent variable is, which is why we have mixed results. It turns out receiving corporate venture capital, they do better in performance and exit, just as you'd expect. They get access to companies with deep knowledge, deep resource deep pockets. They're variable, their forum, they have a buffer, they're able to exit. That's right. But they do worse in innovation. And here's the theory why. And I'm sorry, I'm not attributing this to folks go read this. Actually, Jeff. Well, fantastic, I find something that is interesting to you. Besides, besides the beer, they do worse in innovation, the ideas, okay, so we have an innovative company with a patent pending technology, we take corporate venture capital, the idea is that when we take that corporate venture capital, the company that's investing in us is not investing because of the company. They're investing because our innovation, which they consequentially are going to focus all of our efforts on and then suck up and utilize.
Brad Werner听 39:30听
So I think it's very interesting. And I would say the takeaway for entrepreneurs is early on when you're starting your company, you need to make a decision about which way do you want to go? Are you doing this for an exit, right five year plan? Or is this something that maybe would be multi generational with your family and those types of things? Yeah. And those decisions early on, make a big difference in are quite different paths
Jeff York听 39:49听
forward. This is what I always talk about. And my guests, their venture capitalists, I strongly disagree and we would love to add anybody from the venture capital community on here to talk about why they would disagree with I could bring a bunch of them likenesses, I know you could, but what I was gonna say is like the day you decide to take venture capitalist day you decide to sell your company.
Brad Werner听 40:06听
That's right. Because the five year clock is going,
Jeff York听 40:09听
you have basically decided that we're not going to keep this company going beyond a certain period of time, and we are going to have to sell it. And so that's something you really need to think about. And here's our actionable insight right here. Alright, there it is, every 20 minutes, we're gonna have an actionable insight. There. I had one, I didn't have the ding dong going. Okay. So corporate venture capital is better taken by firms that are not dependent on their innovations for success. Because if you're really dependent on your innovation the day you take corporate venture capitalist day, you more or less, I mean, I know that's not what said, and then NDA, is that what it said in the corporate? Right? He basically decided to sell that innovation.
Brad Werner听 40:48听
And I would say that a lot of times when you're talking and taking on VC capital, they already may have a match for you in their head. Yeah, right.
Jeff York听 40:56听
Right. Especially a corporate Oh, yeah, we're in the match. So I think that's an actionable insight. I think if you're in a company that, you know, really does not depend on a potentially technological innovation or anything like that corporate venture capital might be pretty interest because it might be right. It might be the company's just trying
Brad Werner听 41:09听
to display but you lose control that data. Yeah, you do a lot of control,
Jeff York听 41:13听
I should say you do. But if your goal is to exit, it's the right move. Alright, cool. Awesome. Brad is kicking ass. Just as I expected, I expected nothing less. So question number four, evaluate each one of these questions is based on one study in the special issue. Core, what is more important for driving performance under agglomeration? Right, so you're familiar with the idea of agglomeration? I am not I'm really okay. I'm surprised but the agglomeration is just a fancy term for a cluster, okay. Like, you know, Boulder would have agglomeration and organic and natural foods got renewable energy tech, okay, you know, all right. So what is more important for driving performance under agglomeration or in clusters, supply side skilled workers and knowledge? So the theory there being like, okay, because you come to Boulder or wherever, and you're starting this kind of company, you got skilled workers knowledge spillover via university with Exactly, yeah. Or is it demand side? There's lots of customers in that area.
Brad Werner听 42:09听
Think about this one for a second. Sure. But I think it's a little I actually think it's a little of both. Okay, I think it's more of the supply side, though. If I have to pick one. Do I get buzzed?
Jeff York听 42:19听
Here we go. There we go. Yeah, actually, no. Yeah. Supply side. And
Brad Werner听 42:24听
by the way, let me just let me just say my reasoning, though.
Jeff York听 42:29听
You're actually right.
Brad Werner听 42:32听
I was using boulder as an example in my head. I'm sorry. They're both important. Yeah. But I do think that when you're talking about those early customers, you want those in your backyard.
Jeff York听 42:42听
Yeah. Now here's what changed. Okay, I really, genuinely can buzz that. Okay, start with the man analysis shows? Well, they might be wrong. They will. They might be but they did a meta analysis. And you said Here drink a beer. And
Brad Werner听 42:56听
we might want
Jeff York听 42:59听
to get these guys going one on one. Alright. So I think this is really interesting. The supply side skilled workers and knowledge is definitely predictive of driving innovation. Makes sense? I mean, that's the whole argument. If I can get skilled workers in my industry, I can get the demand side, lots of customers are actually agglomeration both supply and demand has no impact on financial performance. I think that's fascinating. Because I always think there's blows me away. I know, me, too. I'm kind of surprised by this one. I mean, I'm trusting in this day, from what I can tell these studies were very well done. Okay, that's fine.
Brad Werner听 43:34听
That's fine. That's why That's why Yeah, no, this is interesting. But I want to talk about this for a second. Do you buy that?
Jeff York听 43:38听
I don't have any reason to doubt the study. And they did. I mean, they took the LD says appendix
Brad Werner听 43:42听
that one, I'd like to learn more.
Jeff York听 43:44听
Okay, so we'll look at that one. Maybe we'll get these folks on. And yes, next time, I'm sure. I mean, it'd be great. Actually, I think this actually, that relates to the studies are well done. This one's the most interesting because it's kind of like a surprise to be up. And here's even more interesting. This one, I understand. agglomeration actually has a negative impact on growth. I buy that.
Brad Werner听 44:04听
I actually do too, but I'm looking at it in a different way. Let's just use the boulder food scene as an example. Right. We're both familiar with. Yeah. So agglomeration in our town, right of those types of businesses. Absolutely. And I would say that the VC world looks at these folks that need 100% growth a year to be investable, at least. Right. But I wonder what poaching happens, right? If you get similar businesses, I'm a little bit confused on how to articulate this. But I am a little bit confused on that finding truthfully,
Jeff York听 44:34听
well, it's surprising. I think I understand the negative impact on growth. So let's say you and I start Brad and Jeff's organic brewing supplies, okay, and we move here to Boulder right now, on the plus side, we can get people that are really familiar with organic certification, we can get workers who are gonna be passionate about the organic foods industry, as evidenced by our 20 some odd episodes. The podcast we get people passionate about season three, season three episodes. To hear of creative destruction brought to you by The Deming Center for Entrepreneurship at the Leeds School of Business at the University of Colorado Boulder, and we got one more actionable insight coming. I hope it hasn't been 20 minutes, right o'clock here. But here's the problem. Because we moved to Boulder, we are competing for those resources with all these other startups are also looking to target those same people. And people are focusing resources into the most promising bets here in town. So we're not the most promising bet, because I can tell you right now, organic brewing supplies is not going to compete with the next Justin butters, like the average consumer goods that's targeting people, people that are making beer are not necessarily thinking about their health. They're just obvious.
Brad Werner听 45:41听
Let me counter though. Okay, sure. Early adopters, right, you're looking for the early adopter scene. I think that when you talk about consumers that expect new products to come out, they're willing to try. Yeah, so I do think that it may give you an edge in that respect,
Jeff York听 45:56听
but not according to this study.
Brad Werner听 46:00听
You see my point, though, about in a sense, a sophisticated buyer,
Jeff York听 46:03听
but do you think it really matters? I do, actually. Really? Yes. I mean, we're selling that product, we're not gonna be a selling it locally. I mean, no,
Brad Werner听 46:11听
but you need to get that feedback loop early. And you can get it that way. And other other places, it's much more difficult.
Jeff York听 46:18听
I mean, I think here in town, when I think about that, think about like, getting into local, like food stores and things like that and going to farmers markets, and all those kinds of things that can that can be really helpful. Yeah, that early feedback is critical. Yeah, I agree. Okay, here we go. actionable insight. And Somebody's at the door. Yeah. Now, that's the actionable insight coming in the door, like, you know, let you know, it's here. Come on, man. So according to this, it would say young ventures and high tech benefit more from agglomeration than those are not. I think that I mean, that's what we would take from this paper. Brad doesn't quite buy it. But fair enough. That's that's the insight you can take from this, you know, and I could definitely see there being a tendency. I see as a my own research, I might talk about it specifically for Well, I guess I am talking about for businesses want to collaborate with people that have the similar lightcap moral right. Ooh, big like that. I don't think that's
Brad Werner听 47:11听
what about you talk about agglomeration in high tech, though, you're talking about that's a funding hub as well. So that also may be a little bit different, right. So you're talking to customers, but they measure
Jeff York听 47:20听
specifically the skilled workers and knowledge here is the driver and that's the one they find the statistically significant relationship, right. Well,
Brad Werner听 47:27听
they'll agree to disagree. Well,
Jeff York听 47:28听
that's fair enough. Question number five. Our last question. I know this is actually very topical in your class. Okay. What is more important for entrepreneurs for idea generation? So not not for financial success? Just generating ideas?
Brad Werner听 47:41听
Didn't we talk about this in a previous podcast?
Jeff York听 47:43听
I don't remember but probably we'd we did. What we we
Brad Werner听 47:48听
marijuana.
Jeff York听 47:48听
So though we did but this this study was not about weed. General human capital. In other words, just education level, or specific human capital experience and knowledge of a specific area?
Brad Werner听 47:58听
Yeah, I would say be
Jeff York听 48:00听
you to be yes. No, that's wrong, Brad. I'm afraid it's a both Haha.
Brad Werner听 48:09听
Yeah, I got a pitch for these guys. Okay, but that is a special paper. I'd like to see an unspecial paper. Come on. Now.
Jeff York听 48:17听
This is what's interesting here. Okay. So they both actually are important for generating ideas. Okay. But specific human capital is the only part that matters for them actually forming the belief that the idea is viable.
Brad Werner听 48:30听
Okay, so maybe I gotta get a 50%. Oh, you know,
Jeff York听 48:33听
yeah, you get 50%. I'm just screwing around. Yeah. So yeah. Oh, no. No, I do I actually thought Great. Okay, you think?
Brad Werner听 48:46听
So the Insight is, when you're talking about a very technical specific issue, problem solve, that actually makes total sense that you need the expertise of the people that are brilliant in their lanes to help solve the problem. But you also need more generalists to allowing a capable execution? Yeah,
Jeff York听 49:05听
I think that's right. Yeah, I think it makes sense. Like, okay, so if you're, I think the real acumen side of take care is like, yes, getting an education is useful. But it's Hello, despite the efforts of many in our country, going to college and getting a degree is useful in your eyes, and educates you to see opportunities that you might not see otherwise, you're exposed to other ideas and all that
Brad Werner听 49:26听
good stuff. But I would say specifically, a liberal arts education is very useful. Yeah,
Jeff York听 49:30听
I would say that too, even though we both are working at a business school. But yeah, no, I think we agree. 100%. Like, you know, getting a broad education is really important. But to figure out if your idea is actually going to work, you need to get some very specific knowledge of that area. Yes. Yeah. So this is why I think it's so important, and we don't talk about this in theoretical terms. But I think it's important that entrepreneurs think about doing things in spaces they know something about Yeah, hell we know, I know, but right but like, how many how many people do you see like, Brad, let me tell you But my great idea. Yeah, that's a great idea for Google. Yeah. Terrible idea for you. That's right. If we're talking to someone about about like that you were just talking about, and both of us like drinking beer, and we're going to start our brewing supply company. So what Yeah, right. Well, yeah. I like watching hockey, so I'm going to get better hockey equipment like, no, that doesn't work that way. You got to actually know something. All right, Brad. So I would say you were at least three and a half for five, maybe, maybe maybe two for five? I don't know. Something like that.
Brad Werner听 50:30听
I would think I'm six or five.
Jeff York听 50:31听
I think you I think you are, I think I think you blew the acid out of this test, as I said, but
Brad Werner听 50:35听
I appreciate the test. And I haven't had it tested a long time. So this felt good. Hope you had fun.
Jeff York听 50:39听
I thought it would be it was great. It was great. So again, if you enjoyed our pop quiz, you wanna check out the paper for yourself, which I do highly recommend. Check out the introduction, we're gonna be having an author's paper number four on here, which I won't look up right now, because we're already running over time, I'm sure. But the paper and the special issue is strategic entrepreneurship journal, entrepreneurship at a crossroads meta analysis as a foundation path toward the summary article interviewed by James combs, Russell Cook, Dave, Kevin, and Mike. Right. So
Brad Werner听 51:06听
awesome. So thanks, fellows, Jan.
Jeff York听 51:08听
Oh, you drink your October 1. I love working on mine. This was fantastic. Thank you so much under the sun. Thanks very much to Matt rally for having us here. It's been fantastic. Thanks to our producer Joel is always thanks to the Demmings enterprise, for bringing us to please write to us at CD podcast@colorado.edu. And if you want to help us out, just like the podcast, click the little button. Wherever you're listening to podcasts. Yeah, it doesn't take long click the little Like button. If you really want to help us out with this very special edition of screen distillation. Then what you need to do is you need to write a review and it could it could be as short as man, Jeff is so smart. And Brad is just so annoying. Why don't we just have a podcast with Jeff that'd be a great review to write.
Brad Werner听 51:47听
And I would also add, Jeff, that people would actually like us to answer a question or shoot us an email. It'd be it'd be fun,
Jeff York听 51:54听
and we're more than happy. If you're in the area. We can come to you. We're more than happy to have you on the podcast if you're interested. Yeah, be great. All right. Cheers. Cheers, man. Take care. All right. Make sure you come and visit under the sun.
Transcribed by
听