Podcast Summary: Startup Stories - Mixergy

Episode #2273: "What happened to our partnership?"

Date: March 5, 2025 Host: Andrew Warner
Guest: Jesse Puji, Founder of Gateway X

Episode Overview

This episode dives into the evolution and recent growing pains of Andrew Warner and Jesse Puji’s business partnership, specifically within their joint project, Bootstrapped Giants. Andrew and Jesse have collaborated for nearly a year, blending their entrepreneurial strengths and learning about themselves and each other along the way. The episode is a candid conversation about conflict, self-discovery, leadership, and operating in one's "zone of genius" while working in a startup environment. The two also explore broader themes, such as emotional dynamics in business, operational strategies, embracing new technologies (AI), and investing philosophies.

Key Discussion Points & Insights

The Evolution of Their Partnership (00:00 - 02:51)

• Andrew reflects: Their relationship evolved from “buddy-buddy” to excited collaborators, to frustration around differences in working styles and expectations.

  • "And it went from buddy buddy to World of Possibilities to this. I don't know. How would you describe where it is right now?" (01:00)

• Jesse observes: Partnerships (and businesses) have different “arcs and seasons” and it’s natural for tensions to arise as founders grow and adapt.

  • Quote: "Every business has... different arcs and seasons... letting them be the best versions of themselves, not, like, a shitty version of me or my methods." (01:11)

Embracing the "Zone of Genius" (02:25 - 08:27)

• Self-Awareness Challenges:

  • Andrew struggles with how much to adapt to others’ approaches versus amplifying his own strengths.
  • Jesse emphasizes recognizing and committing to one’s “zone of genius”—the area where energy and capability naturally align.
  • Quote, Jesse: "What do you feel most energized and excited about?...Once you're clear about that and you're willing to stay inside of it...that’s been the hardest thing for me." (02:51)

• Practical Application:

  • Jesse asks Andrew to list what energizes and drains him.
  • Andrew identifies that he loves customer discovery and persuading people to try new things, but dislikes writing first drafts and often forces himself to do it anyway.
  • Quote, Andrew: "The only reason that I can't tell you infinite number of times is because I just broke." (06:32)
  • Jesse pushes Andrew to commit to not doing draining tasks, noting the resistance comes from stories they tell themselves (e.g., not trusting others).

Letting Go, Power Dynamics, and ‘Heroing’ (09:00 - 15:22)

• Letting Others Step Up:

  • Jesse shares his own challenge resisting the urge to micromanage or “grab the steering wheel,” and stresses the value of 100% responsibility in relationships.

• Power & Responsibility:

  • They discuss how leaders need to be aware of power dynamics and create genuine spaces for people to say “no.”
  • Quote, Jesse: "Ask for your 100%. 100% of the time, be willing to hear no and negotiate for a win win. And I think that's the best formula version I've heard of it." (13:10)

• The Downside of 'Heroing':

  • Andrew admits he sometimes takes on too much to feel strong, which can be patronizing and prevents others from growing.
  • Quote, Jesse: "When you take that posture, you're putting them beneath you." (14:46)
  • Quote, Andrew: "Not only do I do that, sometimes I do that intentionally as a way of building myself up." (14:54)

Understanding (and Committing To) One’s Strengths (18:38 - 22:10)

• Genius is Often Invisible:

  • Jesse explains that genius can be like water to a fish—not even noticed by the person who possesses it.
  • He encourages exercises: seeking feedback from others about when they've seen you most energized.

• Observations:

  • Jesse highlights Andrew's curiosity and talent for asking the probing questions no one else does, connecting and facilitating in ways others overlook.
  • Quote, Jesse: "There's something about you, Andrew, around information and content that you have a genius around..." (18:38)

Operational Overload & Designing Better Workflow (20:10 - 24:26)

• Jesse's New Work Structure:

  • Jesse splits his work week to focus on different businesses each day to reduce context-switching, but the days still feel overwhelming due to crammed schedules.

• Accepting Current Reality:

  • He acknowledges he’s still too operationally involved and needs to phase towards more strategic, “genius zone” involvement, but also recognizes the value of accepting the present.
  • Quote, Jesse: "I think I'm still pretty heavily operationally involved in all the businesses. And I think that's probably more zone of excellence stuff." (22:42)

Rethinking Company-Building: Acquisition vs. Starting from Scratch (24:26 - 29:54)

• Jesse Considers M&A:

  • After years of co-founding businesses, Jesse is drawn more to acquiring businesses that already have momentum but are “stuck,” offering greater leverage and less draining early-stage slog.
  • Quote, Jesse: "The starting a new business every year... the slog of the freaking first year of every business every year, which I think I was super hyped about for a minute, and now I'm like... just not as excited." (24:57)

• Wanting a ‘Big Swing’:

  • Jesse is interested in trying larger, riskier endeavors, possibly acquiring companies in the $50 million range: “It's like a big swing. It's like no go do go. Like go go try something like that.” (28:07)

AI & Early Adoption in Business (29:54 - 35:15)

• AI’s Transformative Potential:

  • Jesse compares the current AI moment to early Facebook ads—a technology initially overlooked, then rapidly transformative.
  • Quote, Jesse: "The level of advancement is unlike I think anything we've ever seen since maybe the mobile phone or the Internet... The hype is absurd..." (30:13)

• Experimentation Over Research:

  • Jesse prefers hands-on experimentation over research or waiting for clear use cases: “I don't want to talk to anybody about this AI stuff. I want to like go do it and I want to see what happens.” (35:13)

Personal Wealth, Investing, and Spiritual Growth (35:43 - 44:25)

• Jesse’s Investment Approach:

  • Portfolio: ~50% index funds, 25% private equity/credit, 25% real estate funds.
  • Moving away from angel investing and stock picking, favoring simplicity and predictability over chasing returns.
  • Quote, Jesse: "Even if this figure thing pays... I got attracted to. Because I like entrepreneurship and I want to work with entrepreneurs... And then, like, you're losing money and you're not really involved..." (36:52)

• What to Do With Wealth:

  • Struggles with what to do with substantial wealth (“I don't know what to do with the 10, what am I going to do with the 50?”)
  • Grappling with charity, inheritance, and personal enjoyment.

• Spiritual Journey:

  • Jesse discusses moving from a fear-driven, scarcity mindset to greater abundance and comfort with spending—aligning with a broader “spiritual journey.”
  • Quote, Jesse: "Shifting from fear and scarcity around money to, to like abundance and, and love and like openness like that's, that's the shift that's actually made me enjoy money, not the money itself." (40:55)

Favorite Activities & Building Deeper Connections (45:03 - End)

• Podcast as a Relationship Tool:

  • Andrew suggests that deep, candid conversational podcasts might be a way to strengthen both business and personal relationships.
  • Quote, Andrew: "This to me is like, if you talk about... this is one of my favorite things to do, to just have conversations like this. And I do feel like our relationship needed this." (45:06)

• Jesse on Andrew's Interview Style:

  • Jesse observes Andrew’s gift for quickly going deep in conversations, a trait Andrew sometimes overlooks in himself.

Notable Quotes & Memorable Moments

On Zones of Genius

• "It's constantly a question of, how do you take those, absorb the stuff, but make it your own." — Jesse (01:11)
• "You can know it now. You literally know it... but you're not willing to commit to it." — Jesse (07:00)

On Leadership & Responsibility

• "Ask for your 100%. 100% of the time, be willing to hear no and negotiate for a win win." — Jesse (13:10)
• "When you take that posture [of a hero], you're putting them beneath you." — Jesse (14:46)

On Self-Worth and Motivation

• "Not only do I need to know that, have people tell me that what I've done is great. It has to be absolutely, irrefutably great." — Andrew (15:38)

On Experimentation & Company-Building

• "I am getting excited for maybe the next season here to be more about M&A and at least to try it. Like it might not work but, but I'm open to trying it." — Jesse (28:03)

On AI Opportunities

• "The difference between the DFS [horizon] versus the current reality is so far away that there's going to be massive opportunities now if we, we're all like relatively tech forward... we can't figure it out. Think about these private equity owned businesses... there's going to be massive opportunity." — Jesse (31:34)

On Spiritual and Financial Growth

• "Shifting from fear and scarcity around money to, to like abundance and, and love and like openness like that's, that's the shift that's actually made me enjoy money, not the money itself." — Jesse (40:55)

Timestamps for Key Segments

• Partnership Evolution: 00:00 – 02:51
• Zone of Genius & Self-Reflection: 02:51 – 08:27
• Power Dynamics & Heroing: 09:00 – 15:22
• Exercises to Discover Strengths: 18:38 – 22:10
• Operational Overload & Structuring Work: 20:10 – 24:26
• M&A versus Startups: 24:26 – 29:54
• AI in Business: 29:54 – 35:15
• Investment Strategies & Wealth: 35:43 – 44:25
• Building Connections & Podcasting: 45:03 – end

Tone & Takeaways

The conversation is warm, honest, and sometimes raw—a rare behind-the-scenes look at two seasoned entrepreneurs wrestling with personal dynamics, ambition, leadership, and self-actualization. Listeners will gain insights not just into startup operations, but also personal growth, letting go of old patterns, harnessing one’s unique strengths, and how even successful founders need to consciously evolve their own mindsets and workflows.

For listeners: If you crave unfiltered founder psychology, real-talk about what makes a modern entrepreneurial partnership “tick” (or stall), and actionable frameworks for both inner work and business strategy, this episode is a can’t-miss.