In this episode of The Bear Roars, Dan sits back down with Seth Levine—Founding Partner at Foundry Group—for part two of their conversation, diving deep into the experiences that shaped his path from telecom dealmaker to one of Colorado’s most influential venture capitalists.

Seth takes us back to his early days on Wall Street, grinding through 100-hour weeks at Morgan Stanley during the telecom boom. He recounts witnessing the rise and collapse of competitive carriers, navigating chaotic boardrooms, issuing high-yield debt in a market racing toward overcapacity, and learning the craft of business inside an industry on the brink.

Dan and Seth also revisit the origins of Foundry Group, the unlikely formation of the four-person partnership, and how Brad Feld’s mentorship and generosity influenced Seth’s approach to founders, community-building, and leadership. They unpack what it really takes to be a founder, why comfort with the unknown is a superpower, and how Seth is now thinking about the next chapter of his career.

Check out Seth Levine and Elizabeth MacBride's new book: Capital Evolution: https://www.amazon.com/Capital-Evolution-New-American-Economy/dp/1637747780

Learn more about Foundry: https://foundry.vc/

⁠Order Dan’s Book – Bandwidth: The Untold Story of Ambition, Deception, and Innovation that Shaped the Internet Age and Dot-Com Boom: dan-caruso.com/book

Listen to Dan's Song Stretch: https://distrokid.com/hyperfollow/dancaruso/stretch

Check out music by Jason Mendelson (Jace Allen): https://www.youtube.com/@jaceallen

To nominate a founder or yourself as a future guest speaker, email: contact@loudbearproductions.com