What does it take to turn a brand-new technology into something that changes an entire industry? In this episode, Armon Vincent, the founding partner of Catalyst Technology Partners, shares his incredible journey from tech outsider to a trailblazer in healthcare innovation. Armon started out building websites for pharmaceutical companies but soon realized the power AI could have in transforming healthcare. Back when AI was seen as more science fiction than science fact, Armon took the leap, pushing through skepticism to build groundbreaking AI-driven solutions that are changing the game.
Join us as Armon talks about his entrepreneurial evolution, the ups and downs he’s faced, and how he’s leading the charge today at Catalyst Technology Partners. He also dives into how AI is helping businesses scale, the importance of company culture, and how he built a remote team that thrives on innovation.
Key Takeaways:
- AI in Healthcare: How Armon introduced AI into healthcare, even when most didn’t believe it could work.
- From Failure to Success: How Armon’s journey wasn’t always smooth, but his setbacks turned into stepping stones.
- Building a Culture of Innovation: Armon’s approach to fostering creativity and collaboration, especially with a remote team.
- The Future of AI: Armon’s thoughts on where AI is headed, and why it’s just getting started.
- A New Venture: How Catalyst Technology Partners is helping businesses unlock the power of AI to drive growth.
If you're curious about how AI is shaping the future of healthcare—and business in general—this episode is a must-listen. Tune in to hear how Armon’s journey is making waves in the tech world.
About Armon Vincent:
Armon Vincent is a seasoned healthcare and life sciences technology executive with a track record of innovation, leadership, and entrepreneurship. As the founder and Catalyst Technology Partners, he is helping companies harness emerging technologies to redefine current offerings and launch new products.
Connect:
Website: catalysttechpartners.com
LinkedIn: linkedin.com/in/avincent/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Announcer (00:00):
The following programming is sponsored by Marc
J Bernstein.
The views expressed do notnecessarily reflect the views of
this station, its management orBeasley Media Group.
Entrepreneur, founder, authorand financial advisor, Marc
Bernstein helps high-performingbusiness owners turn their
visions into reality.
Through his innovative work andthe Forward Focus.
(00:20):
Forums, Marc connectsentrepreneurs to resources that
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Forums Marc connectsentrepreneurs to resources that
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Founders Forum is a radio showand podcast where entrepreneurs
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Join Marc and his guests for amix of inspiration, valuable
insights and a little fun.
Now let's dive in.
Marc Bernstein (00:41):
Good morning America.
How are you?
This is Marc Bernstein.
This is Founders Forum.
I'm in the studio with ourguest Armon and our engineer
Eric, and I said good morningAmerica.
This is one of those days youhave to work at making a good
morning.
The weather's a little crummy,it's raining and personally, I
(01:02):
may have mentioned this on theradio because my voice has been
a little crummy.
It's raining and personally, Imay have mentioned this on the
radio because my voice has beena little weak lately.
I came back from Florida doingthe shows and living down there
and I got walloped withallergies and, as a result, it's
been like every day.
I got to kind of pump myself upto get my voice going, to get
my attitude going.
(01:24):
So it's one of these days.
Today I pulled out my old toolof affirmations that I recorded
on my phone and I played themand I repeated them and things
just to get me going.
That, you know, remind me whata great day I have planned,
because I get to do two radioshows today, I get to talk to
two of my favorite clients.
Today I get to meet a newpotential client.
(01:45):
For me, it's an exciting day.
That's how I.
What do you do.
Do you ever have days you'redown Armon and you have to like,
oh, absolutely.
And what do you do to changethat?
Armon Vincent (01:55):
I'm big into meditation.
So I try and start there, if Ican in the morning, and try and
reset myself, but in lieu ofthat, a lot of coffee.
There you go.
Marc Bernstein (02:06):
That helps too.
Mine is matcha tea, but Igotcha, Gotcha matcha.
I just how about?
that.
So listen for our topic of theday.
I just wanted to talk a littlebit.
Armon and I were talking aboutdifferent situations.
We were talking a little bitabout boundaries and how they
can come into relationships,because both of us are in
situations where our clients canbe our friends and our friends
(02:31):
can be our clients and we mighthave a third or fourth kind of a
relationship with them, andwhether it's public service on
boards or that kind of thing,how do you deal with that
situation, Armon?
How?
Armon Vincent (02:43):
do you deal with that situation, Orman?
Well, as we were speaking about, it's a very challenging
situation when you start to mixfriendships, business, money,
all of those things sort of intothe same soup, if you will, and
(03:03):
with some people it's very easy.
I'm lucky enough to have somefriends that the boundaries are
natural and you can kind of seethem as you're speaking to the
other person and you're bothaware and you can make conscious
decisions around that.
But when it does get muddy, Ihave to say I do struggle with
the balance between the businessoutcome, the friendship outcome
, especially if that person alsorepresents long-term business
(03:26):
or is across multiple milieuswithin my life.
So I try and talk through itand I try and explain my
decisions as best I can and hopethat it is received with the
same grace that I attempt todeliver it.
Marc Bernstein (03:42):
Well, first of all, it's very thoughtful the
fact that you even are thinkingabout that, because I wonder how
many people actually even doyou know, right?
So that's number one.
And number two, because I'vebeen doing this.
I've mentioned before there's acourse that I've taken called
Create Powerful, and I've donesome coaching around that for
several years now, and in thatwe talk about the use of domains
(04:07):
, and domains could be areas ofyour life or areas of your
relationships.
So, as an example, what I tryto do now is, if I have a friend
who's becoming a client or aclient who I see is becoming a
friend, to say, hey, this isreally nice, our relationship's
evolved and some other things.
But we have to be careful ofboundaries.
(04:28):
Sometimes, you know, I don'twant to be in a social setting.
Let's say, we go out to dinneron a Saturday night and you know
I bring up a business issuethat you may not necessarily be
in the mood for, or there'sother people around and of
course you don't want them tohear it and things like that,
(04:50):
and vice versa.
It may work that way.
So what I might say to them isso.
So I tend to think of things indomain.
So we have the friendshipdomain and we have the business
domain and we might also havethe.
We are on a board together, sowe have the board domain.
You know, and is it okay withyou, Armon, if I see it or if
you see it as well we point outto each other hey, right now
(05:11):
we're in the business domain.
You know, let's put a wrapperaround the friendship domain,
for example, while we're doingthis or we're in the board
setting.
You know, let's not necessarilygo into the business or the
friendship domain because we'rehere to do a job for this
particular nonprofit that we'reworking on or whatever it is.
And are you okay with that?
Because then we can point thatout to each other and if we're
(05:33):
together and there's a need toswitch domains, we can be
conscious about that and we canswitch into another domain.
Armon Vincent (05:40):
I think that's a brilliant idea.
I'm kind of embarrassed that Ididn't think of it.
Marc Bernstein (05:46):
Well, I didn't either, so I just want to point
that out.
But I love to be aroundbrilliant people and pick up
things.
Armon Vincent (05:51):
Absolutely, and so you know, because I'm often
on the back foot when it comesto that and I am having that
conversation after the awkwardconversation has already
happened.
Conversation has alreadyhappened.
So I think I'm going to takethat advice myself and try and
be a little more thoughtful andexplicit about that sort of
upfront, especially with newrelationships.
I think that the idea ofdomains and boundaries is a
(06:14):
really strong strategy.
Marc Bernstein (06:16):
So we are here as your radio guests or in the
domain of the radio show podcastright now.
But we met in a differentdomain because we're mutual
members at the Union League ofPhiladelphia and that's how we
met.
So we have two domains now andfrom the way this is going I
could see us entering into athird domain of a kinship of
(06:37):
some kind.
So it's pretty cool.
So let me introduce my newfriend, Armon Vincent.
I say it because I knew acouple guys named Armon.
Armon Vincent (06:45):
Oh, don't worry, it's the most common
pronunciation.
Marc Bernstein (06:48):
But anyway, Armond Vincent is a seasoned
healthcare and life sciencestechnology executive with a
track record of innovation,leadership and entrepreneurship.
He is the founding partner ofCatalyst Technology Partners and
as that, he is helpingcompanies harness emerging
technologies to redefine currentofferings and launch new
(07:08):
products and kind of fascinatingthe work that he's doing.
So welcome officially.
First of all, thank you, thanksfor being here.
So this is a show aboutentrepreneurs and their stories,
and we talked a little bitabout because I can usually
track something that you knowwhere.
I see that you know how did youbecome an entrepreneur?
(07:30):
And we were talking about thisand you didn't have a family
that were entrepreneurs.
You didn't have any model forthat.
So how did that come about?
Armon Vincent (07:38):
And then let's talk about your history a little
bit so for me it was.
I've always I spent a lot oftime alone as a kid, as I was
actually telling you earlier,and so I developed my own
independent rubric for how Ithought about the world.
(07:59):
And once I got into myprofessional career, I would see
things that I thought I coulddo differently, or an
opportunity in the, in themarket for technology at least,
that you know I thought wasgoing to be the next area to be,
and so I always went for it.
I I never had, I never thoughtabout it in terms of risk, um,
(08:24):
betting on myself.
It was always just okay, thisis the idea.
How do I execute it?
I want to go execute it, andespecially when I was a bunch
younger, the concept of maybeI'll fail or maybe I shouldn't
do this just never entered mymind really.
Marc Bernstein (08:42):
You were fearless, well young let's just
say Well, that's sometimes wherefearlessness comes from.
Yes, Not knowing any betterright and now.
Armon Vincent (08:53):
It's been such a pattern throughout my life.
I've had successes and failuresand good days and bad, but now
it's just how I operate.
I can't imagine my life in anyother way or fashion.
It's sort of now I'm an old dogthat you can't teach new tricks
to.
Marc Bernstein (09:10):
Well, except that I think you're working on
some new tricks right in a way,absolutely.
Armon Vincent (09:15):
AI is absolutely the latest and the new, but I've
actually been in AI since 2007.
Marc Bernstein (09:23):
You had said that.
By the way, I have to tell you,ai comes into almost every show
we have now, regardless of thebusiness.
It's hard to avoid because it'severywhere now.
It's ubiquitous, it'subiquitous, Ubiquitous.
Armon Vincent (09:36):
Thank you.
It's funny.
With AI, I started in 2007 andI built a system that was
analyzing early comments inmessage boards and forums and
this is pre-Facebook, this ispre-Facebook, this is
pre-Instagram and all of that.
And we was using some earlyforms of natural language
(09:57):
processing.
And it was in healthcare.
All the clients I was going tofirst I had to explain what AI
was.
Then half of them would laughat me and say that's going to go
nowhere.
Marc Bernstein (10:09):
You were calling it that then.
Armon Vincent (10:11):
Yeah, yeah, it was called that then, and I mean
the number of people wholaughed me out of rooms and
presentations saying there's noway to prove that.
That's ridiculous.
I mean it took.
I spent more of my time inclient education than I did
actually selling anything Kindof like science fiction, then
(10:31):
right yeah absolutely, or theyjust thought it was completely
fake and I was making it up, sothere was that too Right, right,
right yeah so it was a longslog in the beginning.
Another form of fiction.
Absolutely, and so you know.
Then we get to the present day,and now it's on everybody's
lips and everybody's talkingabout it and everybody's using
chat, gpt and et cetera.
(10:53):
So it's just a wild ride for me.
Marc Bernstein (10:55):
And, by the way, it seems like a year ago people
were just starting to talkabout it.
Now it's everywhere.
Armon Vincent (11:00):
Absolutely, and this is just the very very
beginning.
Marc Bernstein (11:05):
I only know, not that I'm an expert, but I've
had so many people on who are init, like you are, every day
that that's what everyone says.
It's just we're just scrapingthe surface.
Armon Vincent (11:16):
Yeah, this is going to be a larger revolution
than I think, even theindustrial revolution, I mean,
it is one of the largestinventions of humanity.
Marc Bernstein (11:31):
So let's talk about your story and what you've
been doing, so how you got inthe business, and just let's
talk about that because, believeit or not, already we only have
about four minutes to break, sowe'll do that and then we'll
come back and we'll talk aboutchallenges and future and things
like that.
Armon Vincent (11:48):
I started out my career building in the late 90s
building websites forpharmaceutical companies,
working in pharmaceuticalmarketing and advertising firms,
worked my way up into the very,very early 2000s into an
executive position doing whatthey called digital.
At that point, I had an ideafor a company to do what I was
(12:12):
talking about with AI andnatural language processing, to
understand the thoughts,feelings and emotions of people
who were commenting online aboutproducts, brands and therapies,
built that company up.
I didn't think I could be theCEO of that company, so I
brought someone in to do thatand I was the product guy.
We ended up exiting from thatcompany positively in about four
(12:35):
years.
How long ago was this?
This was actually about fiveyears, so this we exited in 2015
.
Okay, sorry, sorry, 2013.
12 years ago.
And then I spent a couple yearsconsulting.
Then I started the last companyI had, which is Custom House.
(12:56):
Custom House, it was a softwaredevelopment shop.
We developed software for hire.
Marc Bernstein (13:03):
About 70% of our clients were healthcare Most of
our business was really usingAI and bringing that into
(13:24):
startups, into existingbusinesses, everything from
Thomson Reuters to GreenfieldBlanksheet freshly funded
startups.
Can you give me an example ofhow somebody?
So?
Armon Vincent (13:31):
Thomson Reuters is not a healthcare company as
such, but how did give anexample of how you would bring
AI into healthcare, if you don'tmind.
So, for example, with ThompsonReuters, we were looking at
helping them analyzepublications at scale,
especially scientific andhealth-related publications, and
helping them glean differentdata.
(13:52):
I can't go into too manyspecifics there, but glean data
from that.
Other healthcare startups thatwe worked with worked with a
company to help them develop Achatbot system that could speak
to young children who were inemotional distress and use AI to
(14:13):
screen those kids at scale andmonitoring.
For a light issue, what was aheavy issue a system to rope in
caregivers, teachers, parents,all of it.
Other things voice assistantsfor nursing homes If you
(14:43):
remember the Amazon Echo oh,sure, sure, yeah, that first
device.
We built an analog to thatPre-Alexa, right?
Marc Bernstein (14:49):
sure, yeah, that first device.
We built an analog to thatPre-Alexa right.
Armon Vincent (14:51):
Yes, we built an analog to that that was deployed
in the elder care market, so itwas really trying to looking at
AI as how does AI help?
At that point, it was just howdoes it help you scale and how
does it help you gain efficiency?
Marc Bernstein (15:12):
You know what?
This is a really good jumpingoff point for a commercial break
.
So we'll be right back onFounders Forum.
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Marc Bernstein (16:19):
We're back on Founders Forum and with our
guest today, Armon Vincent, whoreally is a multifaceted serial
entrepreneur.
We're just getting into thestory a little bit.
So let's talk about CustomHouse a little bit.
You built that up and how manyemployees, as an example, did
you have?
Armon Vincent (16:35):
So at our height we got to 32.
Marc Bernstein (16:37):
Okay, and were some of them offshore?
Armon Vincent (16:42):
Yes, yes, we had tried every type of offshoring.
We had people in India,philippines and then, finally,
we've had the most success withColumbia and South America,
columbia.
Marc Bernstein (16:56):
I thought so, yeah, I thought, I remembered
that.
Yeah, that's amazing, and thatcompany still operates.
Yes, how did you build culture,given that most of your
customers were offshore?
Armon Vincent (17:08):
that most of your customers were offshore.
So with most of our, with ouremployees all being remote at
one point for even before COVID,we were 100% remote.
Marc Bernstein (17:17):
You were ahead of the curve.
It's helpful that you knew howto do that.
Armon Vincent (17:20):
Yeah, it was very natural for us.
It was, you know, you put thetools in place, so we always had
Slack, then teams, uh, all ofthat, and we would meet on such
a regular basis that it was justlike being in constant
conversation, like you were in acubicle.
Sometimes what we would do isjust open up the line and have
(17:43):
everybody completely open.
So you were almost in a truevirtual office.
So, you know, you could justsay anything you wanted at any
moment and someone wasresponding, because it was, you
know, a each team, say a sevenperson team, they would have an
open voice line right there intext and that really helped us
(18:04):
build cohesion and make surethat people are talking to one
another and exchanging ideas.
But also, you have to.
That starts with hiring and itstarts with screening the people
beyond just their capabilities,really understanding them how
are they going to work on a team, what's their approach to their
work?
And then trying to be aschoiceful as you can about
(18:25):
integrating the right peopleinto the team, even if the skill
sets aren't perfect.
Marc Bernstein (18:30):
I know because of another conversation we had
in prep that getting to knowpeople on as deep a level as is
appropriate in a businesssituation is important to you
Very, so it sounds like you dothat work up front.
And then what is the ultimateoutcome of the culture you're
trying to?
What's the most important partof your culture at Custom House,
I guess would be the way to askyou the most important part is
(18:55):
the true teamwork breedsinnovation, but only if you
remove the gotcha, is what I say.
Armon Vincent (19:06):
So there's no finger pointing, there is no
people.
You have to give people room tofail and you sometimes have to
reward failure.
You took the risk.
I get that that didn't workDoesn't matter, we're moving on.
Or we have a bug or some kindof issue.
I don't care why or how we'regoing to work as a team, we're
(19:28):
going to fix it.
You have to get rid of thegotcha, especially if you remove
physical presence, becausepeople can't read your body
language to see that you're notmad.
They're just reading wordsyou're typing, and so if you
don't create that culture, Ithink that's a huge part of
remote work.
Marc Bernstein (19:44):
So I love that.
Get rid of the gotcha.
It's really a great example.
And the next studio is a friendof mine visiting with another
friend of mine.
Pretty interesting, that'spretty interesting.
Anyway, sorry about that.
So company culture we weretalking about that.
Now, custom House has reallybecome a mature business.
At this point it is, and you'vestarted another company.
(20:06):
You want to talk about thattransition?
Armon Vincent (20:08):
Yes, so, as we are finishing our exit of Custom
House, we now started a newbusiness called Catalyst
Technology Partners and reallywe're taking the opportunity to
no longer build software forpeople, but it's a fractional
CTO business and focused onhelping private equity and VCs
(20:30):
really inject AI into thebusiness, into the businesses
that they have in a portfolio,specifically in healthcare, then
healthcare startups and thenalso mature healthcare companies
who have products that now needto find a way to add AI to them
, and none of these companiesmay have the internal skill.
(20:52):
They may not have CTOs and theyneed that experience, but they
don't need it forever.
They need it three, six months,maybe nine months to get up and
working framework proceduresand policies in place, and then
they can keep on going down theroad.
Marc Bernstein (21:09):
Gotcha so and tell us about the new venture.
Armon Vincent (21:13):
So that is the.
Marc Bernstein (21:13):
Yeah, yeah, yeah .
Armon Vincent (21:14):
Yeah, so that we've just started.
Marc Bernstein (21:16):
Well, I guess the differences in terms of you
know, between what you weredoing.
Armon Vincent (21:21):
So now we are not going to build anything.
We would take, you know, buildfrom scratch to the full
solution.
This is just working at theC-suite level to really take all
(21:48):
the knowledge we have frombuilding everything from product
management to all of thedevelopment operations, hiring
engineering teams, understandinghow those budgets work and how
to configure those teams to getthe best outcomes.
Now we want to take all thatexperience and apply it from the
C-suite at the individualcompanies in which we're working
with.
Marc Bernstein (21:54):
If I were to sum it up from what we talked about
the two companies, one was youwere an agent of creation.
Now you're like an agent ofchange really going to companies
.
Armon Vincent (22:02):
It's sort of I consider it a natural maturation
process.
Yeah, gotcha, you start offearly in your career starting to
work on a team to build things,and now you're really creating
products and then you eventuallyget into executive management
and that's sort of what the path, my companies have taken Makes
sense.
Marc Bernstein (22:21):
So what challenges do you see ahead for
this company, if any there's?
Armon Vincent (22:28):
the biggest challenge is going to be scaling
uh, because you're finding theright talent to bring in and
making sure that our revenuemodel supports.
That is going to be the mostdifficult, the difficult piece
because, um, it's a very newarea and I haven't perfected my
(22:53):
rubric of how I'm going to vetthe people and bring them into
the right situation to buildthat culture I was talking about
.
Marc Bernstein (23:01):
Right.
So in a way you're kind of likea search firm slash well,
fractional share, obviously CTOcompany, but searching for
talent is a big part of it.
Yes, absolutely.
Armon Vincent (23:18):
The way it's structured.
It's structured almost like alaw firm in terms of how it'll
work.
But yeah, finding the talent isgoing to be the hardest point.
I really need to findexecutives who are willing to
take some risk out on their ownthere is some P&L responsibility
that they would have to takebut have the large company
(23:40):
experience that it takes toreally understand the challenges
that our clients are goingthrough.
Marc Bernstein (23:46):
And I would also imagine you have to match
personality to cultures and tocompanies as well.
Armon Vincent (23:51):
Absolutely so I'm going to need many crayons.
And to companies Absolutely,absolutely so I'm going to need
many crayons in the box Right.
Marc Bernstein (23:56):
So it's a new set of skills almost you're
developing in order to be ableto do this Absolutely.
Now you're in the peoplebusiness as well, but that's
what makes it fun, of course.
That's great, and I know you'lldo great at it, because you're
a great people person, as I knowtoo.
Armon Vincent (24:09):
Oh, thank you.
Marc Bernstein (24:10):
So we always talk about the future.
So, Armon, if we were sittinghere today, a year from now, and
we're looking back on the lastyear, what would have to happen
in business?
But if you want to go intoother domains as well,
personally, what would that looklike for that year to have been
a successful period in yourlife?
That?
Armon Vincent (24:30):
year to have been a successful period in your
life.
So it's going to be about theclient transformations we can
create In a year from now.
I really want to be workingwith private equity to transform
some portfolios and to reallyhelp them drive and see AI
(24:52):
injected into traditionalbusinesses and what we can do
there, because I think that's ahuge model I want to put out in
the world.
It's almost like getting them tosee the possibilities in the
businesses that they'reinvesting in Exactly, and how
can you deploy AI as a serviceacross your portfolio?
I want that to happen.
(25:13):
Then, on the other end, I'dlove to be involved in some
great new products and help themdevelop their AI strategy
within their products andincorporate that into their
product management, especiallywith healthcare, understanding
the ethical side of it all theway through delivery.
(25:34):
I think those are my real.
Marc Bernstein (25:35):
Those are my two milestones I'm trying to hit,
so it's like you're going intothe people business and then
you're seeping back into theproduct development business, in
a sense as well.
Armon Vincent (25:44):
Yeah, it's, I mean it's sort of the same thing
yeah it really is, because thepeople create the products and
without the right mindset andstrategy, you're not going to
get there, yep, so we have acouple more minutes.
Marc Bernstein (25:59):
I'm going to ask you one question so we let our
guests pick the questions andyou've picked one that many pick
, and I love this question,which is if you could speak to
your younger self, what advicewould you give you?
And then I'm going to come backat you with some other
questions after that, because wehave another minute or two.
Armon Vincent (26:15):
So, when I was thinking about this, I think the
number one piece of advice Iwould have given myself is to,
very early on, spend as muchtime with people outside of your
area of expertise as possible,especially in engineering.
It becomes a very insular thing.
And you're geek, speak geek andyou kind of go down that road
(26:41):
and that was much to mydetriment.
I had to work very hard laterto develop networks and
connections to people that otherpeople already had, because
they had looked at networking inan entirely different way.
So I would say get out of yourown echo chamber, go jump into
as many others as you can andstart to fill your life with as
many different disciplines aspossible.
Marc Bernstein (27:05):
Great.
That's really wise advice andespecially because I see it a
lot with engineers.
It's very but obviously alldifferent kinds of disciplines.
I know many lawyers that don'tget much out of the lawyer world
and it's a similar issue.
Are you a reader?
Armon Vincent (27:21):
I am when time allows.
I am because most of my time isspent inside of technical books
and manuals.
Marc Bernstein (27:28):
So, let's say, aside from technical books, do
you have a favorite book or abook that you're reading now or
that you'd like to read?
Armon Vincent (27:36):
Oh, I'm always perusing what's the top 10
business book out there and so Ihaven't had a chance to look
lately.
But at my next opportunity I'llbe looking at the New York
Times top 10 business books andseeing what's the zeitgeist out
there, because I'd like to knowwhat my clients are thinking.
Marc Bernstein (27:51):
That's a great place to look, and I think
actually, as it works out,that's all the time we have
today for Founders Forum.
So, Armon, thanks so much.
Armon Vincent (27:58):
Fascinating talking to you.
The following programming is sponsored by Marc
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Entrepreneur, founder, authorand financial advisor, Marc
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Through his innovative work andthe Forward Focus.
(00:20):
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Founders Forum is a radio showand podcast where entrepreneurs
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Join Marc and his guests for amix of inspiration, valuable
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Now let's dive in.
Marc Bernstein (00:41):
Good morning America.
How are you?
This is Marc Bernstein.
This is Founders Forum.
I'm in the studio with ourguest Armon and our engineer
Eric, and I said good morningAmerica.
This is one of those days youhave to work at making a good
morning.
The weather's a little crummy,it's raining and personally, I
(01:02):
may have mentioned this on theradio because my voice has been
a little crummy.
It's raining and personally, Imay have mentioned this on the
radio because my voice has beena little weak lately.
I came back from Florida doingthe shows and living down there
and I got walloped withallergies and, as a result, it's
been like every day.
I got to kind of pump myself upto get my voice going, to get
my attitude going.
(01:24):
So it's one of these days.
Today I pulled out my old toolof affirmations that I recorded
on my phone and I played themand I repeated them and things
just to get me going.
That, you know, remind me whata great day I have planned,
because I get to do two radioshows today, I get to talk to
two of my favorite clients.
Today I get to meet a newpotential client.
(01:45):
For me, it's an exciting day.
That's how I.
What do you do.
Do you ever have days you'redown Armon and you have to like,
oh, absolutely.
And what do you do to changethat?
Armon Vincent (01:55):
I'm big into meditation.
So I try and start there, if Ican in the morning, and try and
reset myself, but in lieu ofthat, a lot of coffee.
There you go.
Marc Bernstein (02:06):
That helps too.
Mine is matcha tea, but Igotcha, Gotcha matcha.
I just how about?
that.
So listen for our topic of theday.
I just wanted to talk a littlebit.
Armon and I were talking aboutdifferent situations.
We were talking a little bitabout boundaries and how they
can come into relationships,because both of us are in
situations where our clients canbe our friends and our friends
(02:31):
can be our clients and we mighthave a third or fourth kind of a
relationship with them, andwhether it's public service on
boards or that kind of thing,how do you deal with that
situation, Armon?
How?
Armon Vincent (02:43):
do you deal with that situation, Orman?
Well, as we were speaking about, it's a very challenging
situation when you start to mixfriendships, business, money,
all of those things sort of intothe same soup, if you will, and
(03:03):
with some people it's very easy.
I'm lucky enough to have somefriends that the boundaries are
natural and you can kind of seethem as you're speaking to the
other person and you're bothaware and you can make conscious
decisions around that.
But when it does get muddy, Ihave to say I do struggle with
the balance between the businessoutcome, the friendship outcome
, especially if that person alsorepresents long-term business
(03:26):
or is across multiple milieuswithin my life.
So I try and talk through itand I try and explain my
decisions as best I can and hopethat it is received with the
same grace that I attempt todeliver it.
Marc Bernstein (03:42):
Well, first of all, it's very thoughtful the
fact that you even are thinkingabout that, because I wonder how
many people actually even doyou know, right?
So that's number one.
And number two, because I'vebeen doing this.
I've mentioned before there's acourse that I've taken called
Create Powerful, and I've donesome coaching around that for
several years now, and in thatwe talk about the use of domains
(04:07):
, and domains could be areas ofyour life or areas of your
relationships.
So, as an example, what I tryto do now is, if I have a friend
who's becoming a client or aclient who I see is becoming a
friend, to say, hey, this isreally nice, our relationship's
evolved and some other things.
But we have to be careful ofboundaries.
(04:28):
Sometimes, you know, I don'twant to be in a social setting.
Let's say, we go out to dinneron a Saturday night and you know
I bring up a business issuethat you may not necessarily be
in the mood for, or there'sother people around and of
course you don't want them tohear it and things like that,
(04:50):
and vice versa.
It may work that way.
So what I might say to them isso.
So I tend to think of things indomain.
So we have the friendshipdomain and we have the business
domain and we might also havethe.
We are on a board together, sowe have the board domain.
You know, and is it okay withyou, Armon, if I see it or if
you see it as well we point outto each other hey, right now
(05:11):
we're in the business domain.
You know, let's put a wrapperaround the friendship domain,
for example, while we're doingthis or we're in the board
setting.
You know, let's not necessarilygo into the business or the
friendship domain because we'rehere to do a job for this
particular nonprofit that we'reworking on or whatever it is.
And are you okay with that?
Because then we can point thatout to each other and if we're
(05:33):
together and there's a need toswitch domains, we can be
conscious about that and we canswitch into another domain.
Armon Vincent (05:40):
I think that's a brilliant idea.
I'm kind of embarrassed that Ididn't think of it.
Marc Bernstein (05:46):
Well, I didn't either, so I just want to point
that out.
But I love to be aroundbrilliant people and pick up
things.
Armon Vincent (05:51):
Absolutely, and so you know, because I'm often
on the back foot when it comesto that and I am having that
conversation after the awkwardconversation has already
happened.
Conversation has alreadyhappened.
So I think I'm going to takethat advice myself and try and
be a little more thoughtful andexplicit about that sort of
upfront, especially with newrelationships.
I think that the idea ofdomains and boundaries is a
(06:14):
really strong strategy.
Marc Bernstein (06:16):
So we are here as your radio guests or in the
domain of the radio show podcastright now.
But we met in a differentdomain because we're mutual
members at the Union League ofPhiladelphia and that's how we
met.
So we have two domains now andfrom the way this is going I
could see us entering into athird domain of a kinship of
(06:37):
some kind.
So it's pretty cool.
So let me introduce my newfriend, Armon Vincent.
I say it because I knew acouple guys named Armon.
Armon Vincent (06:45):
Oh, don't worry, it's the most common
pronunciation.
Marc Bernstein (06:48):
But anyway, Armond Vincent is a seasoned
healthcare and life sciencestechnology executive with a
track record of innovation,leadership and entrepreneurship.
He is the founding partner ofCatalyst Technology Partners and
as that, he is helpingcompanies harness emerging
technologies to redefine currentofferings and launch new
(07:08):
products and kind of fascinatingthe work that he's doing.
So welcome officially.
First of all, thank you, thanksfor being here.
So this is a show aboutentrepreneurs and their stories,
and we talked a little bitabout because I can usually
track something that you knowwhere.
I see that you know how did youbecome an entrepreneur?
(07:30):
And we were talking about thisand you didn't have a family
that were entrepreneurs.
You didn't have any model forthat.
So how did that come about?
Armon Vincent (07:38):
And then let's talk about your history a little
bit so for me it was.
I've always I spent a lot oftime alone as a kid, as I was
actually telling you earlier,and so I developed my own
independent rubric for how Ithought about the world.
(07:59):
And once I got into myprofessional career, I would see
things that I thought I coulddo differently, or an
opportunity in the, in themarket for technology at least,
that you know I thought wasgoing to be the next area to be,
and so I always went for it.
I I never had, I never thoughtabout it in terms of risk, um,
(08:24):
betting on myself.
It was always just okay, thisis the idea.
How do I execute it?
I want to go execute it, andespecially when I was a bunch
younger, the concept of maybeI'll fail or maybe I shouldn't
do this just never entered mymind really.
Marc Bernstein (08:42):
You were fearless, well young let's just
say Well, that's sometimes wherefearlessness comes from.
Yes, Not knowing any betterright and now.
Armon Vincent (08:53):
It's been such a pattern throughout my life.
I've had successes and failuresand good days and bad, but now
it's just how I operate.
I can't imagine my life in anyother way or fashion.
It's sort of now I'm an old dogthat you can't teach new tricks
to.
Marc Bernstein (09:10):
Well, except that I think you're working on
some new tricks right in a way,absolutely.
Armon Vincent (09:15):
AI is absolutely the latest and the new, but I've
actually been in AI since 2007.
Marc Bernstein (09:23):
You had said that.
By the way, I have to tell you,ai comes into almost every show
we have now, regardless of thebusiness.
It's hard to avoid because it'severywhere now.
It's ubiquitous, it'subiquitous, Ubiquitous.
Armon Vincent (09:36):
Thank you.
It's funny.
With AI, I started in 2007 andI built a system that was
analyzing early comments inmessage boards and forums and
this is pre-Facebook, this ispre-Facebook, this is
pre-Instagram and all of that.
And we was using some earlyforms of natural language
(09:57):
processing.
And it was in healthcare.
All the clients I was going tofirst I had to explain what AI
was.
Then half of them would laughat me and say that's going to go
nowhere.
Marc Bernstein (10:09):
You were calling it that then.
Armon Vincent (10:11):
Yeah, yeah, it was called that then, and I mean
the number of people wholaughed me out of rooms and
presentations saying there's noway to prove that.
That's ridiculous.
I mean it took.
I spent more of my time inclient education than I did
actually selling anything Kindof like science fiction, then
(10:31):
right yeah absolutely, or theyjust thought it was completely
fake and I was making it up, sothere was that too Right, right,
right yeah so it was a longslog in the beginning.
Another form of fiction.
Absolutely, and so you know.
Then we get to the present day,and now it's on everybody's
lips and everybody's talkingabout it and everybody's using
chat, gpt and et cetera.
(10:53):
So it's just a wild ride for me.
Marc Bernstein (10:55):
And, by the way, it seems like a year ago people
were just starting to talkabout it.
Now it's everywhere.
Armon Vincent (11:00):
Absolutely, and this is just the very very
beginning.
Marc Bernstein (11:05):
I only know, not that I'm an expert, but I've
had so many people on who are init, like you are, every day
that that's what everyone says.
It's just we're just scrapingthe surface.
Armon Vincent (11:16):
Yeah, this is going to be a larger revolution
than I think, even theindustrial revolution, I mean,
it is one of the largestinventions of humanity.
Marc Bernstein (11:31):
So let's talk about your story and what you've
been doing, so how you got inthe business, and just let's
talk about that because, believeit or not, already we only have
about four minutes to break, sowe'll do that and then we'll
come back and we'll talk aboutchallenges and future and things
like that.
Armon Vincent (11:48):
I started out my career building in the late 90s
building websites forpharmaceutical companies,
working in pharmaceuticalmarketing and advertising firms,
worked my way up into the very,very early 2000s into an
executive position doing whatthey called digital.
At that point, I had an ideafor a company to do what I was
(12:12):
talking about with AI andnatural language processing, to
understand the thoughts,feelings and emotions of people
who were commenting online aboutproducts, brands and therapies,
built that company up.
I didn't think I could be theCEO of that company, so I
brought someone in to do thatand I was the product guy.
We ended up exiting from thatcompany positively in about four
(12:35):
years.
How long ago was this?
This was actually about fiveyears, so this we exited in 2015
.
Okay, sorry, sorry, 2013.
12 years ago.
And then I spent a couple yearsconsulting.
Then I started the last companyI had, which is Custom House.
(12:56):
Custom House, it was a softwaredevelopment shop.
We developed software for hire.
Marc Bernstein (13:03):
About 70% of our clients were healthcare Most of
our business was really usingAI and bringing that into
(13:24):
startups, into existingbusinesses, everything from
Thomson Reuters to GreenfieldBlanksheet freshly funded
startups.
Can you give me an example ofhow somebody?
So?
Armon Vincent (13:31):
Thomson Reuters is not a healthcare company as
such, but how did give anexample of how you would bring
AI into healthcare, if you don'tmind.
So, for example, with ThompsonReuters, we were looking at
helping them analyzepublications at scale,
especially scientific andhealth-related publications, and
helping them glean differentdata.
(13:52):
I can't go into too manyspecifics there, but glean data
from that.
Other healthcare startups thatwe worked with worked with a
company to help them develop Achatbot system that could speak
to young children who were inemotional distress and use AI to
(14:13):
screen those kids at scale andmonitoring.
For a light issue, what was aheavy issue a system to rope in
caregivers, teachers, parents,all of it.
Other things voice assistantsfor nursing homes If you
(14:43):
remember the Amazon Echo oh,sure, sure, yeah, that first
device.
We built an analog to thatPre-Alexa, right?
Marc Bernstein (14:49):
sure, yeah, that first device.
We built an analog to thatPre-Alexa right.
Armon Vincent (14:51):
Yes, we built an analog to that that was deployed
in the elder care market, so itwas really trying to looking at
AI as how does AI help?
At that point, it was just howdoes it help you scale and how
does it help you gain efficiency?
Marc Bernstein (15:12):
You know what?
This is a really good jumpingoff point for a commercial break
.
So we'll be right back onFounders Forum.
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Marc Bernstein (16:19):
We're back on Founders Forum and with our
guest today, Armon Vincent, whoreally is a multifaceted serial
entrepreneur.
We're just getting into thestory a little bit.
So let's talk about CustomHouse a little bit.
You built that up and how manyemployees, as an example, did
you have?
Armon Vincent (16:35):
So at our height we got to 32.
Marc Bernstein (16:37):
Okay, and were some of them offshore?
Armon Vincent (16:42):
Yes, yes, we had tried every type of offshoring.
We had people in India,philippines and then, finally,
we've had the most success withColumbia and South America,
columbia.
Marc Bernstein (16:56):
I thought so, yeah, I thought, I remembered
that.
Yeah, that's amazing, and thatcompany still operates.
Yes, how did you build culture,given that most of your
customers were offshore?
Armon Vincent (17:08):
that most of your customers were offshore.
So with most of our, with ouremployees all being remote at
one point for even before COVID,we were 100% remote.
Marc Bernstein (17:17):
You were ahead of the curve.
It's helpful that you knew howto do that.
Armon Vincent (17:20):
Yeah, it was very natural for us.
It was, you know, you put thetools in place, so we always had
Slack, then teams, uh, all ofthat, and we would meet on such
a regular basis that it was justlike being in constant
conversation, like you were in acubicle.
Sometimes what we would do isjust open up the line and have
(17:43):
everybody completely open.
So you were almost in a truevirtual office.
So, you know, you could justsay anything you wanted at any
moment and someone wasresponding, because it was, you
know, a each team, say a sevenperson team, they would have an
open voice line right there intext and that really helped us
(18:04):
build cohesion and make surethat people are talking to one
another and exchanging ideas.
But also, you have to.
That starts with hiring and itstarts with screening the people
beyond just their capabilities,really understanding them how
are they going to work on a team, what's their approach to their
work?
And then trying to be aschoiceful as you can about
(18:25):
integrating the right peopleinto the team, even if the skill
sets aren't perfect.
Marc Bernstein (18:30):
I know because of another conversation we had
in prep that getting to knowpeople on as deep a level as is
appropriate in a businesssituation is important to you
Very, so it sounds like you dothat work up front.
And then what is the ultimateoutcome of the culture you're
trying to?
What's the most important partof your culture at Custom House,
I guess would be the way to askyou the most important part is
(18:55):
the true teamwork breedsinnovation, but only if you
remove the gotcha, is what I say.
Armon Vincent (19:06):
So there's no finger pointing, there is no
people.
You have to give people room tofail and you sometimes have to
reward failure.
You took the risk.
I get that that didn't workDoesn't matter, we're moving on.
Or we have a bug or some kindof issue.
I don't care why or how we'regoing to work as a team, we're
(19:28):
going to fix it.
You have to get rid of thegotcha, especially if you remove
physical presence, becausepeople can't read your body
language to see that you're notmad.
They're just reading wordsyou're typing, and so if you
don't create that culture, Ithink that's a huge part of
remote work.
Marc Bernstein (19:44):
So I love that.
Get rid of the gotcha.
It's really a great example.
And the next studio is a friendof mine visiting with another
friend of mine.
Pretty interesting, that'spretty interesting.
Anyway, sorry about that.
So company culture we weretalking about that.
Now, custom House has reallybecome a mature business.
At this point it is, and you'vestarted another company.
(20:06):
You want to talk about thattransition?
Armon Vincent (20:08):
Yes, so, as we are finishing our exit of Custom
House, we now started a newbusiness called Catalyst
Technology Partners and reallywe're taking the opportunity to
no longer build software forpeople, but it's a fractional
CTO business and focused onhelping private equity and VCs
(20:30):
really inject AI into thebusiness, into the businesses
that they have in a portfolio,specifically in healthcare, then
healthcare startups and thenalso mature healthcare companies
who have products that now needto find a way to add AI to them
, and none of these companiesmay have the internal skill.
(20:52):
They may not have CTOs and theyneed that experience, but they
don't need it forever.
They need it three, six months,maybe nine months to get up and
working framework proceduresand policies in place, and then
they can keep on going down theroad.
Marc Bernstein (21:09):
Gotcha so and tell us about the new venture.
Armon Vincent (21:13):
So that is the.
Marc Bernstein (21:13):
Yeah, yeah, yeah .
Armon Vincent (21:14):
Yeah, so that we've just started.
Marc Bernstein (21:16):
Well, I guess the differences in terms of you
know, between what you weredoing.
Armon Vincent (21:21):
So now we are not going to build anything.
We would take, you know, buildfrom scratch to the full
solution.
This is just working at theC-suite level to really take all
(21:48):
the knowledge we have frombuilding everything from product
management to all of thedevelopment operations, hiring
engineering teams, understandinghow those budgets work and how
to configure those teams to getthe best outcomes.
Now we want to take all thatexperience and apply it from the
C-suite at the individualcompanies in which we're working
with.
Marc Bernstein (21:54):
If I were to sum it up from what we talked about
the two companies, one was youwere an agent of creation.
Now you're like an agent ofchange really going to companies
.
Armon Vincent (22:02):
It's sort of I consider it a natural maturation
process.
Yeah, gotcha, you start offearly in your career starting to
work on a team to build things,and now you're really creating
products and then you eventuallyget into executive management
and that's sort of what the path, my companies have taken Makes
sense.
Marc Bernstein (22:21):
So what challenges do you see ahead for
this company, if any there's?
Armon Vincent (22:28):
the biggest challenge is going to be scaling
uh, because you're finding theright talent to bring in and
making sure that our revenuemodel supports.
That is going to be the mostdifficult, the difficult piece
because, um, it's a very newarea and I haven't perfected my
(22:53):
rubric of how I'm going to vetthe people and bring them into
the right situation to buildthat culture I was talking about
.
Marc Bernstein (23:01):
Right.
So in a way you're kind of likea search firm slash well,
fractional share, obviously CTOcompany, but searching for
talent is a big part of it.
Yes, absolutely.
Armon Vincent (23:18):
The way it's structured.
It's structured almost like alaw firm in terms of how it'll
work.
But yeah, finding the talent isgoing to be the hardest point.
I really need to findexecutives who are willing to
take some risk out on their ownthere is some P&L responsibility
that they would have to takebut have the large company
(23:40):
experience that it takes toreally understand the challenges
that our clients are goingthrough.
Marc Bernstein (23:46):
And I would also imagine you have to match
personality to cultures and tocompanies as well.
Armon Vincent (23:51):
Absolutely so I'm going to need many crayons.
And to companies Absolutely,absolutely so I'm going to need
many crayons in the box Right.
Marc Bernstein (23:56):
So it's a new set of skills almost you're
developing in order to be ableto do this Absolutely.
Now you're in the peoplebusiness as well, but that's
what makes it fun, of course.
That's great, and I know you'lldo great at it, because you're
a great people person, as I knowtoo.
Armon Vincent (24:09):
Oh, thank you.
Marc Bernstein (24:10):
So we always talk about the future.
So, Armon, if we were sittinghere today, a year from now, and
we're looking back on the lastyear, what would have to happen
in business?
But if you want to go intoother domains as well,
personally, what would that looklike for that year to have been
a successful period in yourlife?
That?
Armon Vincent (24:30):
year to have been a successful period in your
life.
So it's going to be about theclient transformations we can
create In a year from now.
I really want to be workingwith private equity to transform
some portfolios and to reallyhelp them drive and see AI
(24:52):
injected into traditionalbusinesses and what we can do
there, because I think that's ahuge model I want to put out in
the world.
It's almost like getting them tosee the possibilities in the
businesses that they'reinvesting in Exactly, and how
can you deploy AI as a serviceacross your portfolio?
I want that to happen.
(25:13):
Then, on the other end, I'dlove to be involved in some
great new products and help themdevelop their AI strategy
within their products andincorporate that into their
product management, especiallywith healthcare, understanding
the ethical side of it all theway through delivery.
(25:34):
I think those are my real.
Marc Bernstein (25:35):
Those are my two milestones I'm trying to hit,
so it's like you're going intothe people business and then
you're seeping back into theproduct development business, in
a sense as well.
Armon Vincent (25:44):
Yeah, it's, I mean it's sort of the same thing
yeah it really is, because thepeople create the products and
without the right mindset andstrategy, you're not going to
get there, yep, so we have acouple more minutes.
Marc Bernstein (25:59):
I'm going to ask you one question so we let our
guests pick the questions andyou've picked one that many pick
, and I love this question,which is if you could speak to
your younger self, what advicewould you give you?
And then I'm going to come backat you with some other
questions after that, because wehave another minute or two.
Armon Vincent (26:15):
So, when I was thinking about this, I think the
number one piece of advice Iwould have given myself is to,
very early on, spend as muchtime with people outside of your
area of expertise as possible,especially in engineering.
It becomes a very insular thing.
And you're geek, speak geek andyou kind of go down that road
(26:41):
and that was much to mydetriment.
I had to work very hard laterto develop networks and
connections to people that otherpeople already had, because
they had looked at networking inan entirely different way.
So I would say get out of yourown echo chamber, go jump into
as many others as you can andstart to fill your life with as
many different disciplines aspossible.
Marc Bernstein (27:05):
Great.
That's really wise advice andespecially because I see it a
lot with engineers.
It's very but obviously alldifferent kinds of disciplines.
I know many lawyers that don'tget much out of the lawyer world
and it's a similar issue.
Are you a reader?
Armon Vincent (27:21):
I am when time allows.
I am because most of my time isspent inside of technical books
and manuals.
Marc Bernstein (27:28):
So, let's say, aside from technical books, do
you have a favorite book or abook that you're reading now or
that you'd like to read?
Armon Vincent (27:36):
Oh, I'm always perusing what's the top 10
business book out there and so Ihaven't had a chance to look
lately.
But at my next opportunity I'llbe looking at the New York
Times top 10 business books andseeing what's the zeitgeist out
there, because I'd like to knowwhat my clients are thinking.
Marc Bernstein (27:51):
That's a great place to look, and I think
actually, as it works out,that's all the time we have
today for Founders Forum.
So, Armon, thanks so much.
Armon Vincent (27:58):
Fascinating talking to you.
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