Podcast Summary: The Mello Millionaire with Tommy Mello

Episode: How 28-Year-Old Founder Matthew Iommi Made His Own Luck
Guest: Matthew Iommi, CEO & cofounder of Fetii
Date: October 10, 2025

Overview

In this episode, Tommy Mello sits down with Matthew Iommi, the dynamic 28-year-old CEO and cofounder of Fetii, an on-demand group rideshare platform. Fetii is transforming group transportation, targeting college campuses and urban areas across the United States. Matthew shares the story of how he saw a gap in the market, bootstrapped a business with grit and vision, scaled it into a tech-driven startup, and attracted major investors such as Mark Cuban and Y Combinator. The conversation ranges from actionable startup tactics, fundraising insights, and the evolving role of technology (especially AI), to profound lessons about building teams, dreaming bigger, and the importance of deliberate action.

Key Discussion Points & Insights

1. The Myth of Luck and the Power of Intentionality

[00:00–00:22]

• Tommy and Matthew challenge the narrative of “luck” in entrepreneurship.
• Hard work, situational awareness, and putting yourself in the right place are emphasized:
  • B (Tommy):

    "Quit saying you got lucky. The same people that ask you why you work so much are the same people that are going to ask you why you keep getting so lucky." [00:15]

2. Origins of Fetii: From Facebook Ad to Multi-State Platform

[02:40–06:01]

• Fetii started after Matthew spotted a Facebook Marketplace ad for a single party bus.
• He and Justin Rath, his cofounder, negotiated an owner-financed purchase for $14,000 without upfront capital.
• They rapidly grew from one bus to five by applying tech and marketing skills, then realized the need for scalable group transportation.
• Identified the pain points:
  • Existing solutions either required splitting into multiple ride-shares or booking expensive charters far in advance.
  • The innovation: On-demand, high-capacity vehicles with rideshare convenience and affordability.

3. Scaling the Business: Growth, Virality, and Investment

[06:01–08:06]

• Growth in College Station led to expansion in Austin, where Fetii “caught steam” and benefited from viral, group-based network effects.

• Gained attention from notable investors:

  • Y Combinator investment (first backers of Airbnb, DoorDash, etc.)
  • Mark Cuban led a $7 million round after his daughter became a passionate user.

• Fetii now operates in six states, serving 200,000+ passengers monthly and has a fleet of 200+ vehicles.

  • A (Matthew):

    "Now we're in six states, we transport over 200,000 passengers a month. And, and the goal is just continued expansion... groups all across the country and hopefully the world." [07:37]

4. Leveraging Data, AI, and New Revenue Models

[08:19–09:35]

• Fetii collects “treasure groves” of data about how and when people move and with whom.

• Plans to use AI for operational efficiency and user recommendations; advertising as an additional revenue stream.

• Fetii is evolving into an umbrella organization: Fetii Ride (rideshare), Fetii Media, and Fetii AI.

  • A (Matthew):

    "We do have an advertising revenue... as part of that, in the recent round, one of our investors... is the president of MGM Television. He really saw the vision... Fetii Media... there's Fetii AI." [09:06]

5. Marketing & Network Effects

[09:02–10:37]

• Fetii benefits from positive association: people posting on social media during group events.
• User-generated content is a powerful growth engine, especially among Gen Z and millennials.
• National campaigns with major brands like Anheuser-Busch, Boston Beer, and Live Golf.

6. Future of Transportation: AI, Autonomy, and Efficiency

[10:39–12:47]

• Discussion around the future of autonomous vehicles, fleet efficiency, and insurance.

• Autonomous insurance rates are predicted to be 30% cheaper than human-driven commercial auto, accelerating adoption.

  • A (Matthew):

    "...Commercial auto is increasing year over year... actuaries and the data are starting to catch up to what autonomous safety really is all about... They’re going to be 30% cheaper now..." [11:18]

7. Building Teams & Leadership

[12:55–15:46]

• Most critical early lesson: Building a great team is more important than relying solely on your capabilities.

• Delegation and acquiring people with an entrepreneurial mindset ensures greater success.

  • A (Matthew):

    "Investing and building a team is probably one of the most crucial aspects to growing a business that I can think of." [13:39]

  • B (Tommy):

    "Work on your superpowers and acquire the best talent fricking possible and get out of your own way. Most of the time, the founder is the bottleneck." [14:59]

8. Where to Invest: Businesses vs. Assets

[16:00–16:56]

• If starting over with $10 million, Matthew would acquire an established business and focus on eliminating bottlenecks, accelerating growth.
• Emphasizes the compounded learning that comes from operating and growing a real-world business.

9. The Art of Saying No & Ruthless Focus

[17:24–17:32]

• Both Tommy and Matthew stress the need to say “no,” focus, and prioritize the highest-impact opportunities.

  • B (Tommy):

    "Saying no needs to become your superpower." [17:25]

10. Vision, Purpose, and Reverse Engineering Success

[17:32–20:21]

• Entrepreneurs are reminded to “dream bigger,” visualize the end goal, and work backwards to plan the path.
• Don't mistake material goals for purpose; enduring fulfillment comes from mission, camaraderie, and building something with meaning.

11. Transparency with Investors: Trust as a Foundation

[21:35–24:05]

• Mark Cuban, Y Combinator, and other investors are highly valued for being hands-off but responsive and supportive.

• Trust is key: Being up-front about challenges builds credibility and a better boardroom dynamic.

  • A (Matthew):

    "...trust is also built when you come to them with the hard questions, with the things that aren’t working in the business." [23:29]

12. Rapid-Fire Closing Q&A

[24:05–25:52]

• Best Customer: College kids—more distribution, less reliance on a single client.
• Best Product Feature: QR check-in and individual, per-passenger payment—a customer-inspired innovation that drove accessibility and scale.
• Book Recommendations:
  • The Hard Thing About Hard Things by Ben Horowitz
  • The Snowball Effect (Warren Buffett biography)

Notable Quotes & Moments

• On Winning Mindsets:

  “The same people that ask you why you work so much are the same people that are going to ask you why you keep getting so lucky.”
  — Tommy Mello [00:15, 26:39]

• On Teams:

  “Investing and building a team is probably one of the most crucial aspects to growing a business that I can think of.”
  — Matthew Iommi [13:39]

• On Vision:

  “You have to visualize that, manifest it... Then you go backwards and how do I get there?”
  — Matthew Iommi [17:42]

• On Investor Relationship:

  “That trust is also built when you come to them with the hard questions, with the things that aren’t working in the business.”
  — Matthew Iommi [23:29]

• On Purpose vs. Money:

  “...now you’re on this island with a lot of money, looking for purpose, looking. Well, maybe the bigger house will do it for me… you always have to have a mission.”
  — Matthew Iommi [19:04–20:21]

Key Timestamps (MM:SS)

• Luck vs. Intentionality: 00:15–00:22
• How Fetii Started: 02:40–06:01
• Going Viral & Attracting Y Combinator: 06:01–08:06
• Mark Cuban Investment: 07:37
• Leveraging Data, Expansion: 08:19–09:06
• Marketing / UGC Power: 09:02–10:37
• AI/Autonomous Future: 10:39–12:47
• Best Advice – Team Building: 12:55–13:55
• Biggest Business Insight: 16:00–16:56
• Discipline & Saying No: 17:24–17:32
• Reverse Engineering Big Goals: 17:32–17:42
• Investor Relationship & Trust: 23:15–24:05
• Rapid-Fire Q&A / Book Recommendations: 24:05–25:52
• Closing Thoughts: 25:58–26:39

Closing Insights

• Action beats intention. Purpose, self-reflection, and relentless execution matter more than wishing and waiting.
• Build teams and trust before scaling product and operations.
• Dream bigger, then do the “ruthless prioritization” it takes to get there.
• Embrace transparency with investors and collaborators: sharing problems earns respect and unlocks true partnership.
• Money alone doesn’t guarantee fulfillment—only mission and community do.

For ambitious founders and operators, this episode cuts through the clichés and delivers an honest, detailed blueprint for scaling, leading, and thinking beyond “luck.”